Simply put, a conjugal agreement (also known as a pre-marital agreement or agreement of intent) is a contract signed by a couple before marriage to determine their finances in the event of a divorce. “Marriages include how a couple shares their finances, which is the separate property of each party (with which they would enter into the marriage) and how they would divide their home,” Schpoont says. “It can delineate how they would divide marital property, including marital debts – that is, what they have, but also what they owe – and it can also indicate how long a spouse or child can stay in a marital home during a divorce. Here are some other points you need to understand about marital agreements: Once you know all the terms you want to include, be as clear as possible. Use simple language in your chord. There is no need for technical terms, legal or tiny and unnecessary details. While the carnival of the week is that Justin Bieber and Hailey Baldwin secretly married earlier this week, the even more important news is that they may not have signed a marriage contract. With Justin`s net assets at $265 million and Hailey`s $2 million, it`s a huge wealth imbalance. Depending on the outcome of the marriage, this could result in a big payday for Hailey.
The first thing to do is to go online and search for “California marriage contracts” and learn about the subject in general. There is a lot of information available online for free. The next step, if you decide that you want to pursue a marital agreement, is to seek an experienced and competent lawyer and consult with that lawyer, ask other questions, establish a relationship, discuss the circumstances of the marriage and get the basic advice of the lawyer. Some couples meet and marry quickly, so a prenup is a good thing when you don`t know each other very well. Other couples do not want to talk about it during marriage planning and instead sign a post-uptial arrangement after the marriage has been legalized. (You can receive a post-up at any time after the wedding or make changes to your prenup after the wedding, which can turn it into a postnup, Wallack notes). You and your partner must have their own lawyer when setting up the contract.