Keep in mind that a mediator does not make decisions, but helps you decide while ensuring a level playing field. This is particularly important because a court is likely to invalidate a marital agreement that they consider unfair. We are often asked whether the marriage contracts only cover the assets that the parties already have at the time of the marriage or whether they can also protect future assets that the parties may obtain at a later date. This is also due to the fact that it is more useful for the other party to be aware of potential estates or gifts when deciding whether they are satisfied with the terms of the agreement. They could avoid saying, “If I had known about it, I would never have signed.” Marital agreements are not reserved for the rich and celebrities; Anyone who wants to protect the property and the fortune he brings to a wedding will find them invaluable. A well-developed prenup will also protect future benefits. For example, if one of the spouses has just started a business, the income cannot be significant at the time of marriage. However, if the spouse expects the business to enter service, it may be written in the prior application that future income would be protected if the marriage did not survive. This may also apply when a spouse expects to take over a family business or other essential asset in the future. Advanced planning can be an important contribution to the protection of future assets.
A marital agreement can be a complex subject that requires many in-depth discussions on topics with which there may be differences of opinion. Mediation is a great way to start your marriage – it`s an option that many don`t know is available to them. The most common motivation for marriage is when a spouse has many more assets or property before marriage. This means that they will lose much more than others in a divorce scheme of equal size. A spouse may want to protect savings or other assets accumulated years or even decades before the breakdown of marriage. In order to protect a certain number of assets, marriage contracts are concluded entirely tailored to your needs and those of your partner. The need to review or change your marriage pact depends on the changing circumstances of your marriage. In the end, your prenup should remain reasonable and fair, no matter what. Changes to circumstances that may warrant a review of the preparation include the birth of a new child or a substantial increase in salary or a case of relevance to an individual. So can a prenup protect future assets? The answer is yes, with a restriction.
To protect a future asset, Prenup must describe in detail what the future asset will be. Otherwise, a judge may reject any vague language related to a future asset, particularly if he does not specify in concrete terms who owns the asset.