Similarly with will dispute lawyers, clients won’t always have the foresight to secure the services of a prenup lawyer when an agreement is being formalised.
However, it is clear from those who have proceeded with representation that they encounter far less challenges along the journey.
Protecting Spouse Rights
The top priority that a prenup lawyer will have towards their client is to protect their rights and ensure they are not taken advantage of. Once the document has been lodged and certified by the government, a man or woman who has sought representation will have an advocate on their corner should the other partner make an illegitimate claim or place pressure on the other party to make alterations. They will understand what they are entitled to and advise them about best practice should any conflict ensue.
Identifying Opportunities & Benefits
By engaging in confidential consultations with a prenup lawyer, a spouse will be able to understand why the drafting of such a document will be beneficial. From protecting the rights of children and grandchildren to assigning key roles, assigning debt, the involvement of a business entity, compensating for a career move and entitlements post divorce, these insurance measures can give couples peace of mind. It can be confronting and unsettling to consider such scenarios, but the same principle is applied to life insurance policies and other settings where adults have to engage in a degree of foresight for circumstances that can be out of their control.
Outlining Potential Downsides of an Agreement
One of the chief benefits of using an experienced prenup lawyer is that they will be able to provide their counsel to clients who might be having second thoughts about the process. Rather than relying on conjecture or hearing dissenting opinions from friends and family members, these arbiters will be able to provide objective context that will help to inform a spouse about the potential downsides. That will then allow them to weight such con’s against the positives, delivering a result that they can move forward with and have peace of mind about the agreement. These experts are not yes men who are in position to green light the document, but they are there to advise and guide.
Validating The Prenup Agreement
The actual lodgment of an agreement is a process that is always assisted when a certified prenup lawyer is involved. This is a process termed as a Binding Financial Agreement (BFA) in an Australian context. It is a process that is overseen under the Family Law Act and can cost constituents anywhere upwards of $5000 or above to validate depending on the terms of the agreement. It is not enough to have basic terms drafted on paper as it has to go through the correct channels before it is legally recognised by the government. That management is a task that these solicitors expertly handle.
Helping to Update Agreement
Should both spouses agree to updating the terms of the agreement over the course of their marriage, then the use of an authorised prenup lawyer will prove beneficial. There are intricacies and complications involved to update such a binding document, but so long as the right applications are utilised and the right details looked after, then the couple will be able to ensure their positions are protected.
There can be a lot of drawback from the notion of using a prenup lawyer. These practitioners are often viewed through the lens of managing conflicts and crises, a scenario that is not in play as a couple prepares to marry. Just like citizens using an accountant for their tax returns, this is a strategy that spouses use because they know they will save time, energy and money trying to juggle the responsibility in isolation.