Posted: November 14th, 2022

Topic: Family Law

Topic: Family Law

Describe the nature and purpose of the premarital agreement.
A premarital agreement is increasing at a higher rate among couples intending to marry. Prenuptial agreement is signed if a person engaging in marriage has something to secure for instance properties. The deal helps the prospective couple know their future expectations and how the division of property will take place in case of separation or death. A premarital agreement is also signed by those remarrying for the second time to share the property vividly in case of death. Wealthier spouses protect wealth by signing the agreement stating the beneficiary in case of death or divorce . The less affluent spouse receives less wealth as compared to courts decision.
Identify the reasons why an individual might want to have a premarital agreement.
A premarital agreement is opted to avoid financial burdens that accompany the divorce process on the share of wealth. Holders of prenuptial agreement are the wealthier individuals who fight to protect their property in case of death or divorce. More so if the individual decides to remarry and want the wealth to be shared among children other than the spouse. Generally, the agreement is considered for economic justice and freedom.
Discuss the kind of information that his or her attorney should give a client before entering into a premarital agreement.
An attorney is required during the agreement whereby the attorney will have to view some requirements needed. Legal advice is offered by the attorney on the dos and does n’ts of signing the contract. Legal agreement is written, voluntary, and agreed between the two. Each spouse is required to have a detailed disclosure of assets and properties owned, false information about the assets will be termed as a fraud. In case the agreement is considered out of gender abuse/violence will, therefore, be regarded as coercion
Identify the most included provisions of the premarital agreement.
Clarity on the type of property, either marital or premarital estates. The court requires a vivid distinction of the kind of features. Marital properties are divided equally between the spouses. Responsibilities of the spouse are included, for instance, the income rate; businesses acquired separate or joint, management of bills, and other payments. Children from other relationship are considered in the agreement to be considered as beneficiaries and security of the family.
Describe the kind of information gathered in preparation for the drafting of a premarital agreement.
A list of assets and debts acquired before marriage is gathered before getting into the agreement. These assets are known as premarital assets where accurate information is required. Properties acquired after marriage are considered mostly during remarriages. Marriage contributions and responsibility, such as financial management and payment of bills such as school fees and hospital bills.

Cohabitation agreement
———————- Cohabitant one and —————–cohabitant two jointly referred to as cohabitants
Who will live together in the future at ——————————–, in the city of —————, county——————State of—————-, at this moment agrees on this —————-day of—————–in the year——————-, as follows:
The cohabitants have a mutual agreement and not based on ”meretricious sex”.
The cohabitants have no plans for marriage. Cohabitants intentions are to live together and benefit from the relationship.
Responsibility regarding cohabitant’s property as well as income is that each will work independently and be entitled to his/her pay.
The cohabitants have full disclosure of assets and liabilities to each other provided by both.
Cohabitants intentions on purchase of real estate are a division of responsibility equal for the cohabitants in case of equity on responsibilities the parties will share equally.
Division of cohabitants real responsibilities are: Cohabitant 1 cohabitant 2
Construction of property 300$ 300$
Ownership of the title 500$ 500$
Expenses on property improvement 100$ 100$ Share of the features on the event of termination 900$ 900$
Total costs 900$
The cohabitants have opened a joint account whereby the contribution of money is done equally for the real estate project.
Some of the provisions are, cohabitants will equally responsibilities on house cleaning, shopping for groceries, and cooking.
Responsibility and maintenance of the property will be done by the parties who have a mutual understanding of ensuring the place is a pet-free zone.
The cohabitants will start living on 2nd of September 2019 and 2nd of September 2024. Terminate of the agreement on the cohabitation has been declared as beneficial to both .in cases of a temporary separation the parties will have an equal share of responsibilities living together or not.
Termination of this agreement states that the parties will have an equal right of the property shared, mutual release together with execution of demands and claims during completion. Debts accrued between cohabitants will be divided fairly if acquired by both but separate in case acquired by one cohabitant.
Documents from the cohabitants will be included during termination for clarity, for instance insurance covers, health care proxies and durable power of attorneys.
I HAVE READ THE ABOVE AGREEMENT, I HAVE TAKEN TIME TO CONSIDER ITS IMPLICATIONS, I FULLY UNDERSTAND ITS CONTENTS, I AGREE TO ITS TERMS, AND I VOLUNTARILY SUBMIT TO ITS EXECUTION.

————————- ——————————–
Cohabitant’s no.1 Cohabitants no.2

Witnessed by: Witnessed by:
————————————— ———————————————-

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Tags: Topic: Family Law