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April 11th, 2021

Prenuptial Agreement Problems

3. What is your lawyer`s role in developing these agreements? Is this lawyer a lawyer for you or just the documentation of your decisions? Is someone negotiating on your behalf? Does your lawyer have conflicts of interest or relationships that could affect the quality of representation? Imagine the Beast asked Beauty to sign a marriage pact? It would certainly have watered down the idyll of history if the beast had said, “You can read the books in my Belle library, but you cannot marry me, unless we can bear it to be mine if we divorce.” Media coverage of celebrity divorces often discusses over-bleeding or lack thereof. Wealthy people sometimes renounce marital agreements. The cases of divorce without notice are Harold Hamm (oil billionaire) and Paul McCartney. In contrast, Tiger Woods and Kim Kardashian had marital arrangements. Whether or not a marital agreement is reached depends on a large number of personal and financial factors. The other big problem with pre-marriage agreements is the process in which it is usually carried out. In a very tender and affectionate time in their relationship, the parties “lawyer up”. They are now turned into adversaries. The Ombudsman may refer the couple to “media-friendly” review lawyers.

These lawyers are sensitive to the dangers of Prenups, are their client`s lawyer, also understand and support the conditions that their client wishes to make in the agreement. These lawyers will not replace their own idea of “what should be a marital agreement” and will respect their client`s decisions. In this area, the representation of interests is sometimes not served by the fact that a client obtains the “best possible financial agreement”, but by responding as restrictively as possible to the real concerns and objectives of clients. At the same time, a change in the tax law has led to a second look at many prenupes. Under the old tax law, support was a deductible charge that was included in the recipient`s income. But under the new law, if you pay for subjects, you will no longer have a deduction. And your ex no longer counts payment as income. The new law applies to agreements reached after December 31, 2018 or previous agreements amended after December 31. And not just any lawyer, but someone who specializes in prenupes.

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