Article by Claudia Van de Velde - Photo (above): Unsplash
Unknown, unloved? The wedding contract.
When preparing for your perfect wedding, you will soon be making a hundred and one choices. Anno 2020, preparing for your wedding is quite a ‘journey’, ideally enjoying every step you take together from start to finish to the fullest.
However, one important choice is often neglected or underestimated, but is at the same time incredibly important for a long and happy marriage: the choice of whether or not to go for a prenuptial agreement.
‘I myself have been working as a lawyer specialising in family law for almost 30 years, and I am still surprised every day that couples deal with this so casually.’ insists Claudia. "Even though this is one of the most important decisions of a lifetime... Yet the situation is simple. You start a new chapter in your life, which you hope will last forever."
What are your options?
Then the question is this: do you choose to share everything together or do you prefer to keep the accounts separate, with the possibility, of course, of depositing a fixed monthly budget from the separate accounts into a joint ‘pot’? How do you want to arrange everything in case of death? Does everything go to the children, do you want everything to go to your partner, or do you prefer a ‘tailor-made’ arrangement?
Claudia: ‘You should be aware that if you do not opt for a marriage contract, the ’legal system' applies. This means that everything you own or will later ever own is and will be immediately common, except for those things you have inherited or been gifted, or those monies or things you can prove you had before the marriage.
With ‘separation of assets’, it is just the opposite: everything is strictly separate unless you decide otherwise. This system is very often recommended when one of the partners is an entrepreneur, partly to reduce the risk of bankruptcy. This is certainly not a given! But at the same time, this system then sometimes has disadvantages for the other partner.
And then there are options that form a ‘middle ground’ between these two extremes. For example, you can opt for a system of separation of assets but still add a limited community of property, into which you put your family home, for example.
A marriage contract can be completely ‘tailor-made’ to your needs, and can also be an ideal tool for inheritance planning."
Good agreements, good friends
The saying : ‘ Good agreements make good friends’ also applies in a marriage . Because in a long and happy marriage, all kinds of things come your way. After all, you promise on your wedding day that you will always be there for each other, in good days and in bad. You build or buy a house, have children, build a career, but things can also go wrong when one of you falls ill or loses his job. Even then, a marriage contract can be useful. Moreover, a prenuptial agreement is an excellent tool to protect each other later on if either of you dies in old age.
Claudia adds: "I also note that people, sometimes under pressure from their parents, choose a totally wrong system, a choice they could have avoided through good legal advice. Recently, I read a good quote in the newspaper : ‘A marriage contract is like a wedding suit: after some time, some adjustments are needed...’
Indeed, later in life, it is often advisable to revisit your marriage contract to protect your children, or to engage in proper inheritance planning. It's like a house: it can be beautiful when built, but it will fall into disrepair anyway if you don't maintain it properly. That's why I advise young couples to still take some advice before their wedding day to find out what would be the best choice for them."
A consultation with notaries or lawyers specialising in family law is often free or has a very limited fixed cost. "Surely you also have a rental contract or the contract for the construction of your house read by a professional before you sign it? So why not the most important contract of your whole life?" concludes Claudia.
After all, only after sound advice can you make the right informed decision about the kind of legal system you both entrust yourself to.
‘All the best to you!’
Claudia
Claudia Van de Velde is the first female partner at Desdalex Advocaten in Antwerp. She started at the Mechelen Bar in 1991 and evolved into an expert in family law and family property law.
With legal precision and empathy, Claudia Van de Velde assists her clients in negotiations and in mediation procedures. Equally expert and passionate, she defends their case in court. She has been appointed as a deputy justice of the peace since 2013. Furthermore, Claudia Van de Velde puts her heart and soul into the Antwerp Bar Association, and is an enthusiastic fundraiser for Think Pink, the association that supports scientific breast cancer research. She also sits on the board of directors of Go2Sport, a non-profit organisation that encourages cancer patients to participate in sports through tailor-made sports programmes.
