Expediency of Concluding a Marriage Contract - Essay Example

According to the National Paralegal College , more than 2,3 million people marry each year and half of those marriages end up in divorce. As such, pre-nuptial agreements are significantly gaining prominence during the contemporary period against the background of such alarming divorce rates. Therefore, this case study based paper seeks to evaluate the significance of such agreement drawing from the case of Jeremy who divorced his first wife and wants to put a pre-nuptial agreement with Marietta his new found love. The paper starts by explaining the meaning of pre-nuptial agreement in order to get a clear understanding of the whole concept. Basically, a pre-nuptial agreement/premarital agreement is “a contract between prospective spouses made in contemplation of marriage and to be effective upon marriage.” Such agreements are often entered in order to address contentious issues in marriage like support, distribution of wealth in the event of death, divorce or failure of the marriage. In order for this agreement to be enforceable, it should be in writing and it becomes a valid contract between the two spouses such that in case of separation, the court can make an amicable decision with regards to distribution of property between the couple. In this case, property refers to tangible or intangible assets such as income and earnings (US Legal, 2014). A premarital agreement becomes enforceable upon the consummation of the marriage and both parties agree to be bound by the agreement. In case of Jeremy and Marietta, this kind of agreement is essential since it is primarily meant to protect their marriage. Jeremy has previously gone through a traumatic experience when he divorced with his first wife. Traditionally, men are often regarded as the breadwinners in the family though there are also successful women who are gainfully employed. Either way, the other partner in marriage may be interested in taking advantage of the wealth of the other spouse and they enter into a marriage of convenience. Such kind of marriage is doomed right from the beginning and there are likely chances that it would end in divorce. The other partner with little wealth in the marriage would then try to take advantage of the situation where she demands a lion’s share of the property she has not worked for. This would be a typical marriage of convenience where the other partner is mainly interested about material gains rather than the marriage itself. The other reason why this sort of agreement is essential is that when people get married for the first time, they have strong physical and sexual appreciation for each other. In some cases, the relationship is bound by sexual appealing towards each other. However, with time, this sexual attractiveness fades away and one of the two may either be attracted by other people other than the married partner. The aspect of sexuality ought to be treated with respect by both partners in order for their marriage to last longer. In such a scenario, a premarital agreement would be ideal. In this case, it can be noted that Jeremy is a successful business person and he should be protected so that he is not taken for granted by the people he marries. This agreement is likely to bring sanity in the marriage of Jeremy and Marietta since they are all aware right from the beginning that they are entering in a valid marriage that is protected by law. At least, the chances of taking each other for granted are minimised if the marriage is premised on enforceable law. In the case of divorce, there is no party that would cry foul as a result of the fact that the agreement entered prior to marriage is valid and enforceable. This agreement will help to make sure that there is fairness in the distribution of property and wealth between the two parties involved. The only fear in this case is that the other partner who enters into the marriage with little wealth is likely to emerge victorious in the event that their marriage has ended. The wealth will be distributed equally between the two regardless of the fact that the husband has been responsible for acquiring the fortune for the family. The couple will be entitled to equal distribution of wealth in the event of divorce which still leaves the other partner at a disadvantage. Somehow, this agreement is unfair since it over protects the other partner who has not significantly contributed towards the acquisition of the wealth. Marriage is more of a life commitment hence the need for the couple to allay such fears like divorce in order for them to happily live together. The couple has a right to enter into an agreement that is legally binding if it is meant to protect their interests in the long run. Under family law in the US in particular, both the wife and husband have rights to be treated as equal partners and they should also be protected against any form of abuse. The wife and the husband have the right to terminate the marriage when it has become defunct. However, such kind of divorce should be done in such a way that the other party is aware of the proceedings taking place. An agreement should also be made among the two people that they are terminating their marriage and the court proceedings will then ensue. This is very important since it helps to ensure that there is no party left disgruntled after the marriage has been terminated. However, the major concern in this case is related to the other party failing to honour the obligation of the marriage for the love of money. For instance, if the couple has a house, the partner who will take care of the custody of the kids if there are likely to be any would be entitled to get the house. This means that the husband has to look for other alternative accommodation regardless of the fact that he is the one who bought it. Property is also distributed equally between the couple which is another issue of concern since the other party who has not contributed in the purchase of the property stands chances of benefiting from what they have not sown. Over and above, it can be noted that the premarital agreement has more advantages than disadvantages. First and foremost, this agreement is specifically meant to protect the marriage between two people. The couple is aware of the fact that they are in an agreement that is enforceable so they are not likely to take each other for granted. The other advantage of the agreement is that in the unlikely event of a divorce, each partner is entitled to a fair share of property acquired by the two people while in marriage. This is regardless of the aspect of who has contributed more or less since these people are treated as equal partners in the marriage. The main advantage is that justice is ensured since the courts of law are the highest arbiters of any disputes among different people. However, the only likely disadvantage is that the other partner who has not contributed much in the acquisition of property during marriage would be entitled to something he or she has not worked for. References National Paralegal College (2014). “Premarital Agreements/ Antenuptial Contracts” Viewed from: . US Legal (2014). “Florida Premarital Agreement Law” Viewed from:. Read More