if there is one dominant party who controls all the family assets, they can conceal hidden assets to the Courts (for example, if they have invested in properties overseas the courts have no way of clarifying this short of a treaty with every country in the world) so that this asset does not have to be divided. So subsequently one party will end up better than the other. Similarily, if there is one dominant party from the beginning of the relationship, the submissive party could agree to a less than fair agreement on their behalf. (www.austlii.edu.au) However there are safeguards created for this situation, whereby a pre-nuptial agreement will not be deemed valid until both parties have obtained individual financial advice from industry professionals. (www.democrats.org.au/campaigns/prenup/)More obvious benefits of prenuptial agreements include the fact that they make it simpler and more user friendly to sign into a contract with the other party, so, in the case of a divorce, the proceedings are much more pleasant, quicker and less traumatizing for everyone involved. Divorce can tear especially children apart and seeing their parents go through less stress can surely only be of good value for their own future- children whos parents divorce actually have a less chance of having a successful marriage themselves. A perfect way to sum up the need for individual couples to obtain pre-nuptial agreements is expressed in the quote "Nobody plans to fail- but a lot of people fail to plan". While marriage is traditionally seen as a life-long commitment, with our changing society it is becoming more "Until Divorce do Us Part." There is an unwavering need for pre-nuptial agreements, and this change of legislature whereby pre-nuptial agreements become binding has been well overdue for a long time. Pre-nuptial agreements are useful, provide peace of mind and are an outlet for the greater community as a whole to contribute together to making a more e...
