Wednesday, December 13, 2017
Home > Community Lawyer > Do you know that couples can sign agreement on how to share property if they divorce?

Do you know that couples can sign agreement on how to share property if they divorce?

By Firsts Baba Isa

Prior to marriage, a couple may enter an agreement to decide how property should be treated should the couple later divorce.

It will usually be made at the request of a spouse who enters the marriage with substantially more assets than the other spouse.

The agreement may dictate the ownership of property and whether alimony will be paid and how much should be paid.

Typically courts uphold these premarital agreements (usually referred to as a prenuptial agreement or prenup) and may not in the event the agreement was entered into with the intention of divorce or unfairly.

This is what I tried explaining to a couple who approached me to draft a prenup for them. Both of them are hustlers with assets worth less than 500k and they want a prenup.

At times we just pick up concepts from a book or TV show and want to implement it without understanding the nuances.

I’m a lawyer and I’m ready to draft any legal agreement but this prenup thing, though legal, is so alien to our culture.

I will not hesitate to draft it but before you request for it please at least meet the “be wealthy as a single component”. Well, you mustn’t, but I just think you should.

I’m not saying there is no other aspect of prenup… But determining how the substantial wealth you have acquired before marriage will be shared during divorce is the meat of a prenup.

Prenup is always neater and better than a fierce and bitter divorce, where you get ripped off because you fell in love.

Love with all your heart, but do it legally.

Enjoy your love life, but if you need a lawyer to help you enhance this enjoyment, by all means get one.

Talk to you soon.

Firsts Baba Isa is your communitystories.ng’s #CommunityLawyer. He can be reached via @firstbabaisa;

07037162020 and meandisa@gmail.com

 

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