In India, marriage is a union of two families. It is deemed sacred and brings a lot of change in an individual's life, especially women. But the idea of two individuals getting divorced is a nightmare in our society, the fact that relationships end and marriages don't work is far-fetched. You'd be lying if you don't agree with me that divorces are cruel for women. From societal obligations to financial difficulties, women become more vulnerable in these situations.
That said, here's how a Prenuptial Agreement or Prenup could come to your rescue and act as a security. So read on.
What is Prenuptial Agreement, or Prenup?
A Prenup is a contract between two individuals highlighting the financial rights before getting married. It is a signed, registered, and notarised contract that includes the distribution of assets, liabilities, and issues relating to custody of children if the marriage falls apart due to divorce or death.
There are high chances you will deal with a cruel or petty set of in-laws- a prenup could provide some legal relief and clarity in these situations. Not to mention, an unsuccessful marriage can be mentally and physically exhausting- thus, securing your financial rights is a comfort we all deserve.
That said, Prenuptial Agreement is not legal in India as the law doesn't consider marriage a contract. But this does not stop couples from obtaining a prenup as it is governed under the Indian Contract Act, 1872. Many business families create this document to avoid the financial hassle during a divorce.
As per reports, Prenups can be considered binding if the marriage is solemnised under the Special Marriage Act, provided it is submitted along with other documents to the registrar.
Though the clauses of prenup vary as per a couple's needs and requirements. Some common clauses are- separate property, earning during the marriage, alimony, shared property, and custody of children.
Having a prenup offers a lot of benefits, including financial stability to the individuals, equal distributions of assets, and liabilities, and expensive advocate fees, among others.
A lot of Indian women often have to give up on careers and professional lives once they are married. Whether it's pregnancy or having to look after the child, it is quite disruptive to the right to be financially independent. A prenup contract stands as strong security for women.
A prenup contract is considered valid only if it's fair to both the parties and the individuals who have signed it voluntarily without any threat. One should not forget to seek an attorney's fair advice before making a Prenuptial Agreement contract.
Keeping aside the society's judgment there is no such disadvantage of having a prenup contract. Indeed, a prenup is the only solution to avoid post-marital trauma. Know your rights!