Prenuptial agreements are legal arrangements that couples can make before or during marriage to clearly establish the rules for how they will manage their finances together. They are also known as “marriage contracts” or “prenups.”
Although many people think prenups only serve to protect assets in the event of divorce, they actually go further: they help define from the beginning how finances will be handled, which can help prevent future conflicts.
What are Prenuptial Agreements?
They are formal contracts in which a couple determines the rules that will govern their financial relationship. This contract may include:
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The choice of economic regime (community property, separate property, or participation).
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Identification of individual assets.
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Agreements on the management of joint property.
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Any other lawful provision related to the marriage.
When and how are they made?
Prenuptial agreements can be made:
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Before the marriage: This is the most common time. The contract only takes effect if the marriage actually occurs.
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During the marriage: It is possible to modify the financial regime at any time, as long as both parties agree. However, if there are minors involved, court authorization is required.
The agreement must be executed in a public deed before a Notary and, once signed, must be registered with the Civil Registry to be valid.
Advantages of Prenuptial Agreements
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Legal clarity: They help avoid misunderstandings or future conflicts by putting in writing how assets will be handled within the marriage.
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Protection of personal assets: They allow each person to separate what they owned before marriage or what they build individually.
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Adaptability: They can be tailored to each couple’s unique situation and needs.
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Transparency and trust: They encourage open discussions about money and expectations, which strengthens the relationship from the start.
Conclusion
Prenuptial agreements are a valuable tool for building a solid and lasting relationship based on clear and fair agreements. Getting legal advice before signing is essential to ensure the terms are fair and legally sound.
At ERP Lawyers, we offer personalized advice in drafting and formalizing your prenuptial agreement, ensuring that your interests—and those of your partner—are fully protected. Our team is ready to support you with professionalism and trust every step of the way.
