The prevalence of divorce in today's society makes it imperative that CPAs, as trusted financial and tax advisors, understand how to counsel individuals on the benefits and limitations of prenuptial agreements
. CPAs know more about a client's financial situation than any other advisors, and can provide an attorney with the detailed financial and tax information needed to prepare a prenuptial agreement
that protects the client's financial interests.
Rabbi Basil Herring, Executive Vice President of the Rabbinical Council of America, expressed his organization's gratification that "the prenuptial agreement
has been so effective in limiting the incidence of recalcitrance among couples whose marriages have failed."
Situations that exist, in which prenuptial agreement
should be considered, include the following:
[section]732.702, the prenuptial agreement
operated as a waiver of wife's right to take elective share.
In view of the above, one can conclude that a marriage contract (akin to a prenuptial agreement
) entered into between spouses pursuant to which matrimonial assets or money/alimony is dealt with or alternatively where one spouse undertakes to transfer certain assets to the other upon divorce is very likely to be upheld by the personal status courts.
Whether you like the changes in the tax law or not, they are likely to impact anyone considering a divorce or prenuptial agreement
, anyone going through a divorce, or even those who already have divorce-related agreements or judgments.
"You wouldn't need a prenuptial agreement
to stop Windsor Castle from being cut in half in the event they divorce," he said.
A prenuptial agreement
is not just a vehicle for protecting the financially dominant party.
Jodi Winter, a partner at CJCH Solicitors specialising in family, matrimonial and childcare law, said the firm had seen a "definite increase" in engaged women entering into a prenuptial agreement
before saying "I do" in recent years.
The rabbinical judges ruled that "despite the prenuptial agreement
stipulating that in the case of a separation, no side will have any demands or claims, the court has decided to explain this clause as referring only to the personal property brought to the marriage by the couple and not to claims regarding the ketubah."
Therefore, where a business owner is getting married, he or she should give serious consideration, and take legal advice, upon getting a prenuptial agreement
The 31-year-old model-who is 60 years Hefner's junior-will not receive anything after having signed an ironclad prenuptial agreement