Family & Relationships Marriage & Divorce

Do You Need a Marriage Contract?

When there is a legally agreement that is binding a woman and a man to stay as couples, then their marriage is legal.
A marriage certificate is a document showing that the marriage was conducted legally.
Once you sign the document you are declared as wife and husband and your marriage takes effect from the time of its signing.
Nowadays, couples especially celebrities are signing marriage contracts.
There are a set of promises in the marriage contract that couples are supposed to keep.
They are not to be breached by couples and if any couple breaches it then the marriage comes to an end.
You can also enter into a marriage contract if you agree with your partner do so.
The contract can be signed before marriage or after marriage.
There is no specific period to sign the contract with your partner.
Ketubah Marriage Contract Jewish marriage contract is known as Ketubah.
According to the teachings of Jewish faith couples are forbidden to cohabit.
Ketubah contract sets out the fundamental moral alongside the financial and conjugal responsibilities for couples.
It also protects the rights of women during their marriage and in case they get windowed or divorced.
Getting a Separate Advice Before signing a marriage contract both of you should get a legal advice.
The lawyer giving you legal advice should be separate from that of your partner.
This will enable you to have a better understanding what you are about to do and also to avoid any influence in making decisions.
Your lawyer will make sure that you understand the terms and conditions that are stated in the contract by explaining each one of them to you.
Your lawyer and the lawyer of your partner will arrange for both of you to sign the marriage contract after they are certain that both of you have understood it.
They will also ensure that there are witnesses present to witness the signing of the contract.
Issues Pertaining to Finances Nowadays, people who are about to get married are concerned about financial issues.
They want to know what happens to their assets and money if they get divorced or one of them passes on.
There are couples who have joint savings account and have invested together for many years but when one of them passes on or they are divorced, it becomes difficult in claiming the assets and the amount of money saved in the bank account.
The matter is complicated more if there is no any written agreement on how the assets are to be divided or who is to inherit them.
It is for this reason that you should decide with your partner to include in your marriage contract on how the assets and money should be divided in case of a divorce or who should inherit them in case of death.
The contract should also state on how the assets will be managed during your marriage with your partner.
There are chances that some people accumulate assets before they get married.
You should either specify in the contract whether to retain the ownership of assets or they should owned jointly if you or your partner owns some assets before getting married.
It is also important to specify in the contract about financial support.
For instance, it should specify whether the partner who is not earning income or earning an income that is too low is entitled to receive a certain amount of money each month from his/her partner.
It should also specify what bills to be footed by you and the ones to be footed by your partner each month.
Fair Contract The contract should be fair to both partners.
The reason why you and your partner are entering into a marriage contract is to ensure that you are fair to one another.
A fair contract will ensure that you do not get into a long period of disagreements in your marriage.
Do You Need a Marriage Contract? Here are some reasons why you need to enter into a marriage contract with your partner.
Some of the reasons are: 1.
) To avoid financial instability/insecurity in case of divorce or when your partner passes on.
2.
) If you are single parent with assets and you are getting married for the second time.
You will protect your assets to be inherited by your children.
3.
) Marriage contract makes it easy for your partner to trace your assets, investments and money saved in bank accounts once you pass on.

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