Effects of Not Preparing a Prenup Agreement

Pursuant to the law, a marriage is legally recognized as a contract between the marrying couple. This contract spells out certain automatic property rights for each spouse. To say the least, laws on marriage may, as a default, establish certain rights of the spouses during their marriage.

One of which is the shared ownership of property acquired during marriage, and that the property will be divided equally between the spouses in the event of dissolution of marriage. This can also provide provisions regarding the debts to be shouldered by the spouse during marriage. In conclusion, there are certain rights that the parties could have agreed on in their prenup which would have been better for both of them.

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