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Release Of Marital Agreement

A marriage contract should take into account all assets that the parties hold or wish to acquire in the future, including retirement plans, stock options and other pension plans for workers. An unlocking agreement is an enforceable promise not to enforce rights against money or other compensation. Essentially, one part (release) gives money or other consideration to another party (the releaseor). In return, the relegation party agrees not to bring an action, to not charge or to bring legal action against the releasee. In the years leading up to the parties` agreement on marriage, human activity had declined sharply, mainly due to the recession. The husband had also made considerable gifts from his estate to his children through a previous marriage. When the wife consulted me, the most important thing in the husband`s estate was his tightly held business, which was worth well under $4,800,000, if ever. In some countries, including the United States, Belgium and the Netherlands, the matrimonial agreement provides not only for what happens in the event of a divorce, but also to protect certain properties during marriage, for example in the event of bankruptcy. Many countries, including Canada, France, Italy and Germany, have marital rules, in addition to or in some cases instead of marriage agreements. Marital property is the property acquired by the couple or one of them during their marriage through their personal efforts. It excludes by donation or succession property or property acquired during the marriage. By mixing separated and marital property, it is transformed into marital property. A marriage contract should have a clear trigger for the operation of its property allocation rules.

For example, a marriage agreement provides that the woman will receive half of the man`s house, plus $100,000 a year from her marriage, if she divorces after five years of marriage, but none of their husband`s property if they divorce after less than five years of marriage. The husband consults me four years, ten months after the marriage. He learns that the woman intends to leave him for another man and file for divorce from where the five years have passed. When will the parties be “divorced” for the purposes of the wife`s right to property under the marriage agreement? In the event of a divorce petition? In the event of a divorce? In many countries, there is a legal waiting period between filing a divorce application and filing a divorce judgment.

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