Say the word ‘pre-nuptial agreement’ and chances are that you’ll be faced with a lot of frowns and raised eyebrows. In India, where marriages live forever or at least thought to be so, the very prospect of talking about a prenuptial agreement is considered unlucky. Or that you’ve already got a divorce on your mind even before you’ve said your vows.
To be fair, a prenuptial agreement isn’t just for celebrities or for people who have a history of bad marriages. It’s for anybody who is getting married and who brings along a few personal assets into the new family. A prenuptial agreement gives couples a clear idea of who owns what, what belongs to who and who gets to keep what if and only if the marriage hits a rocky patch. We’ve heard about many stories of women losing all the jewellery they brought along with them and even losing parental property, after marriage. This kind of loss can be averted when a prenuptial agreement is signed before the two parties make their relationship official.
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So, when and why should you seriously consider talking about a prenuptial agreement with your better half?
The first advantage is of course, that should there be surprises later on in the marriage, you can avoid the usual court drama if a pre-nup is in place. There will be fewer fights over property and most importantly, you won’t lose or have to give up what you brought to the marriage. The fact that pre-nuptial agreements are considered favourable by courts works to your advantage. Trust us, with financial matters more or less in place, both of you can end the relationship amicably too.
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If you have your own business or your family already has a business that has been around for years, singing a pre-nup helps to protect the business too. There are many stories of businesses that get caught in between legal tussles and other personal fights because the owners are no longer together and have parted ways. Even if a separation does take place later, the livelihood of either partner does not need to suffer.
A pre-nuptial agreement can act as a trusted safety net especially if the couple who are getting married are older in age. Assuming that there are already grown up children involved, a pre-nuptial agreement can protect inherited property and other assets in case there is a divorce later. When such an agreement is signed, neither party has to worry about losing property or being forced to give it away. Clauses clearly stating that either partner’s individual assets will not be divided or shared with the significant other, can be drawn up specifically. This way, everybody is a winner.
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Financial experts say that one of the best ways to ensure that you have a firm hand on your inherited or purchased assets after marriage is by maintaining separate bank accounts and registering any purchased property solely in your name. Marriage experts say that drawing up a prenuptial agreement before the vows says a lot about where the marriage itself is headed. If the partners have been honest about their individual wealth, the marriage is likely to last longer and if anything has been kept hidden, then a divorce could be on the cards.
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