In the modern age, with break-ups happening around us, be it married or de facto relationships, prenuptial agreement is the only way to protect our properties and assets and to ensure that either of the parties do not feel jilted and are treated with fairness. Every father/mother should demand prenuptial agreement and finalise the terms and conditions before the daughter’s or son’s engagement. Whether parents initiate a relationship as in the case of arranged marriages or not as in the case of love marriages, the significance of prenuptial agreements cannot be ignored. People who attend the wedding or bless the newly wed couple are not going to be around for ever and hence, if things fall apart, a prenup becomes absolutely essential to save the couple from incurring heavy loses. Media keeps us informed about short lived celebrity marriages and staggering divorce settlements, which has rendered the unfortunate partner almost penniless or has cheated him/her of wealth accumulated over a long period of time.
In my opinion, agreeing for a prenup is a sign of love/care; it is a way of assuring the ‘partner-to-be’ that by giving his/her consent for the wedding he/she is not undertaking a huge risk and that even if things occurred contrary to their expectations he/she can still emerge financially unscathed even if emotionally scarred which will eventually heal with time. Having gone through separation, I am on those who regret not having insisted on a prenup before entering into a married relationship. With prenup, a divorcee receives the entitled spouse settlement, dowry money if Indian, a roof over head and, if there are children in the relationship, child support. A prenup prevents the loss of properties acquired before the relationship, ancestral properties inherited, bank savings, jewellery and other assets and superannuation savings etc except for the share included in the agreement with mutual consent. Prenuptial agreement is followed by wise couples universally; however, it should be mandatory to encourage marriages and healthy, productive relationships. The norm should be “No prenup, No registered marriage or de facto!”