What would happen if you don’t sign a Prenup before the Wedding date?
Failure to establish a prenuptial agreement prior to marriage results in automatic inclusion in community of property, entailing the following:
- All assets and debts of both spouses amalgamate into a 'common estate,' jointly owned.
- All earnings, acquisitions, inheritances, or purchases during the marriage become part of this common estate.
- Funds in individual bank accounts legally become part of the joint estate.
- Debts incurred by either spouse are the responsibility of the joint estate, posing a risk in cases of insolvency.
- Disparity in pre-marital assets leads to an immediate equal division upon marriage.
- Upon termination of the marriage, whether by divorce or death, the entire estate, including debts, is equally distributed, a process often complex and protracted.
