A pre-marital agreement describes what happens to certain assets if you and your future spouse divorce. As unpleasant as it may be to think about it when planning a wedding, it can now help you make sure your property is protected if you get divorced. Although these agreements are not yet legally binding in England, a 2010 Supreme Court ruling accepted that family courts must bind spouses to a marriage contract (before or after marriage) if both parties understood the effects of entering into the agreement. The same is true in Hong Kong. A pioneering divorce case in Hong Kong concerned the German agreements before and after. The case confirmed that the principles set out in the Supreme Court`s Radmacher case with respect to marriage contracts would set an appropriate precedent for Hong Kong courts and that, if they fully understood the impact, the parties would most likely be bound by their agreements.
A military marriage contract may even be detailed enough to determine the divorce process, for example. B who will leave and who will stay, who will contact a lawyer and what type of divorce is sought (undisputed, innocently, etc.). The more detailed the cold realities of such an approach, the more serene and calm the process will be if it is inevitable. A military divorce is especially difficult, so the more planning there is, the better it is for both of you.
As one of you, or perhaps both, could be used, it can be much easier for your life together to give each other power (POA) for certain life events. PoA allows your spouse to file your taxes, organize and sign credits that will benefit both of you, and monitor your finances. Explicit consideration of the POA in a marriage contract will leave no doubt as to the end of temporary power; This should stop if you agree to part ways so she can`t empty your accounts or ruin your credit history. Whether you have opted for an agreement or on the proposal of family members, trustees or co-shareholders, a marriage agreement (as in the case of pretentious partnerships and post-marital agreements) can save a lot of stress, litigation and future legal costs if the relationship falls apart. We have enormous experience in drawing up and negotiating these agreements, whether they are from several jurisdictions or they concern only one country. A military wedding is not like any other. It combines duty and romance, freedom and finance. Many zealous young couples with one or two doves who serve our country never think of a marriage contract. This can have unfortunate consequences for years in the future. Six critical aspects of a military marriage contract must be considered at the same time as marriage planning.
Many military families are mixed with children of yesteryear. A marital marriage contract can recognize these children from other relationships and support them financially. This in no way separates the children of your new Union as second-class citizens; It simply protects the little ones that are already part of your heart. A military marriage contract can also protect any of you from taking on each other`s debts incurred before your marriage. Since military payment is what they are, you can expect to struggle financially during your marriage, which makes it all the more difficult to pay off pre-marital debts. Student loans, car credits purchased when you were both single, and credit card debts (unsecured) still need to be processed, but now your military marriage adds new expenses: For a marriage contract to be valid, you and your future spouse must disclose all the complete financial information…