German Prenuptial Agreement: Protecting Your Assets Before Marriage
If you`re getting married and you have substantial assets, it`s important to consider a prenuptial agreement. A prenup is a legal agreement that outlines how assets will be divided in case of divorce or death. The prenup is signed before the wedding and is enforceable in court.
In Germany, a prenuptial agreement is called a “Ehevertrag.” It`s a contract between two people who are planning to get married. The German Civil Code allows couples to agree on the division of assets in case of divorce.
Who Needs a Prenup in Germany?
There is no specific group of people who need a prenup in Germany. However, it`s advisable for people with substantial assets, business owners, those with children from previous marriages, and those who want to protect their inheritance.
A prenup is also useful for couples who have different financial backgrounds. For example, if one partner is a millionaire while the other has nothing, a prenup can ensure a fair distribution of assets in case of a divorce.
What Can Be Included in a German Prenup?
A German prenup can cover a range of topics related to the couple`s financial situation. Some of the most common topics include:
1. Property: The prenup can specify who owns which property and how it will be divided in case of divorce.
2. Inheritance: If one partner has inherited assets, the prenup can state how those assets will be protected in case of divorce.
3. Debts: The prenup can state who is responsible for paying certain debts.
4. Alimony: The prenup can state whether one partner will receive alimony in case of divorce.
5. Business: If one partner owns a business, the prenup can state how the business will be divided in case of divorce.
How to Create a German Prenuptial Agreement
Creating a prenup in Germany can be a complicated process. The agreement must be notarized, and each partner must have a separate lawyer to represent their interests.
The first step in creating a prenup is to sit down with your partner and discuss what topics you want to cover in the agreement. You should be open and honest about your finances and what you want to protect.
Once you`ve agreed on the topics, you should each hire a lawyer to draft the agreement. The lawyers will work together to create a contract that is fair and legally binding.
After the agreement is drafted, you`ll need to sign it in front of a notary. The notary will ensure that both partners understand the agreement and are signing it voluntarily.
Conclusion
A German prenuptial agreement can protect your assets and provide peace of mind in case of divorce. If you`re getting married and have substantial assets, it`s worth considering a prenup. To create a legally binding agreement, it`s important to hire separate lawyers and have the agreement notarized.
