Since the passage of the Marriage Property Act in 1976, marital agreements have been permitted in New Zealand. Section 21 of the Property (Relationships) Act 1976 expressly authorizes a spouse, life partner, common-law partner or two persons considering entering into a marriage, union or common-law relationship to enter into a contract based on the provisions of the Law. The specific requirements that must be met for the agreement to be valid follow: this simple pre-marital agreement stipulates that each party will retain the property, property and property that it and she owned when he and she entered into the marriage. It was written for couples for whom the financial support of the other is less important, perhaps because the partners have already accumulated enough wealth in their lifetime to support themselves. The document is intended to protect the property of this wealth, not to ensure that one is supported by the other. I know of at least one case in which a judge looked at a deal that cost more than $US 5,000 in legal fees, said “it`s not fair” and continued to carve the assets according to their ideas on who should benefit the most from the situation. As far as I know, there have not been enough appeals to set reasonable precedents with this relatively new legislation. Of course, the agreement provides for joint assets, full disclosure and other elements essential to the acceptability of a court. The agreement cannot be unduly unfair to one of the parties. If you are considering getting married and are considering doing a takeup yourself, it is a good idea to see in prenuptial agreement forms for example to get ideas on the types of information usually contained in these legal documents. RocketLawyer.com is an excellent resource for free advice on prenuptial agreements and also offers online prenupe forms for those who wish to create a do-it-yourself-Prenuptial Agreements.
It`s not about what happens when you separate: it`s about taking care of each other. Before you get married, it`s important to look at things like wills and find retirement plans. A marital agreement is just another part of that planning. 4.6 that the above clauses (4.2 and 4.3) apply independently of conduct, agreement, undertaking or conduct purporting to transfer the rights or obligations of one contracting party to the other party, unless they are formalized in accordance with paragraph 14 of this marriage contract. Thank you Surely, a deal is better than none! I was hoping to hear that it would be valid if no constraint/misunderstanding, proven date, and not inappropriate?? Craig It`s not necessarily fair to these kids, and it might be harder for you to take care of them. A marital agreement can help ensure that property and property are kept safely. 11.1 The contracting parties guarantee that they have read and understood any clause in this marriage agreement. Pre-marital agreements are a good idea. Like all types of “agreement,” they are only as reliable and good as the mechanism you would “use” to impose it! 9. MODIFICATION OF THE CIRCUMSTANCES AND RELATIVE PARTIES RECOGNIZE that their respective assets may increase, decrease or remain at the same level during the marriage and expressly and irrevocably state that any change in the financial situation of any of the contracting parties will affect this marriage agreement.