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Essential Terms of China Prenuptial Agreement

Prenuptial Agreement is type of contract created by two people before entering into marriage. This contract could outline each party's responsibilities and property rights for the duration of the marriage. We are China family law lawyers and we draft prenuptial agreement for our clients.

More commonly, prenuptial agreements, also called antenuptial agreement, outline terms and conditions associated with dividing up financial assets and responsibilities if the marriage dissolves. Prenuptial agreements have always been a very controversial topic for couples. Media portrayals of prenuptial agreements show them as devices that celebrities and other similar high net worth individuals use in order to cap the amount of wealth that an ex-spouse can claim. However, when carefully planned and used correctly, a prenuptial agreement can be a fair way of disbursing assets and responsibilities.

Despite some variations, there are some general commonalities in prenuptial agreements and suggested key provisions to consider including to ensure validity and enforceability. Prenuptial agreements:
• are written documents that are signed by both parties
• disclose assets and income of parties, with particular focus upon the disclosure of the wealthier party to the less wealthy party
• in some states, may include a knowing waiver of income and asset disclosures if both parties agree
• cannot result from duress (extreme emotional pressure or stress)
• cannot result from fraud
• should be reviewed and signed well in advance of wedding (the greater the lead time, the better; ideally, several months)
• may be drafted, reviewed, and entered into with or without assistance of counsel
• may result from negotiations between parties, but negotiations are not required
• may include that parties' initials at the bottom of key or all pages of the prenuptial agreement, though there is no legal requirement for this
• may be signed while parties are being video- or audio-recorded to document the parties' understanding of the agreement
• may be accompanied by handwritten statements of the parties in their own words that reflect their understanding and agreement
• must be fair and not leave one party destitute in comparison to the other
• cannot increase the probability of divorce
• cannot limit rights to child support
• cannot waive rights to child support
• will generally be upheld if they contain a blanket waiver of spousal support
• containing specific spousal support agreements are more challenging to uphold
• should not contain frivolous, non-monetary demands
• must be signed voluntarily
• hould not involve any undue influence
• must not be unconscionable.

Contact our China divorce lawyer for more information regarding how to draft a China prenuptial agreement.

 
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