The Prenup For Second Marriage is a specialized legal agreement designed for individuals entering into subsequent marriages in New Zealand. This document is particularly crucial when parties bring substantial assets from previous relationships, have children from prior marriages, or wish to protect inherited wealth. The agreement must comply with the Property (Relationships) Act 1976 and requires both parties to receive independent legal advice. It typically includes detailed schedules of assets and liabilities, provisions for property division, and considerations for existing family obligations. This type of agreement is especially relevant given the increasing frequency of second marriages and the complexity of modern family structures. The document serves to provide clarity and certainty for both parties while protecting their respective interests and those of their existing family members.
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1. Parties: Identification of both parties entering into the agreement, including their full legal names, occupations, and addresses
2. Background: Context of the agreement, including acknowledgment of previous marriages, intention to marry, and desire to contract out of the Property (Relationships) Act 1976
3. Definitions: Definitions of key terms used throughout the agreement, including 'Relationship Property', 'Separate Property', 'Previous Marriage Assets', etc.
4. Purpose and Intent: Clear statement of the agreement's purpose and the parties' intention to create a binding agreement under Section 21 of the Property (Relationships) Act
5. Separate Property: Detailed provisions regarding property that will remain separate property of each party, including pre-existing assets from previous marriages
6. Relationship Property: Provisions regarding property that will be considered relationship property and how it will be dealt with
7. Financial Disclosure: Acknowledgment of full financial disclosure by both parties
8. Independent Legal Advice: Confirmation that both parties have received independent legal advice as required by law
9. Separation and Division of Property: Provisions for property division in case of separation or dissolution
10. Death Provisions: Arrangements for property distribution in the event of death of either party
11. General Provisions: Standard clauses including severability, entire agreement, and governing law
1. Children's Interests: Provisions specifically addressing interests of children from previous marriages, including inheritance rights and property protection
2. Business Assets: Specific provisions for business assets owned by either party prior to the marriage
3. Trust Interests: Provisions regarding existing trust arrangements and future trust establishments
4. Spousal Maintenance: Provisions regarding future spousal maintenance obligations
5. Retirement Benefits: Specific provisions for dealing with retirement accounts and pension benefits from previous marriages
6. Debt Management: Provisions for handling pre-existing debts and future debt obligations
7. Family Heirlooms: Special provisions for family heirlooms or items of sentimental value from previous marriages
8. Insurance Policies: Provisions regarding life insurance policies and beneficiary designations
1. Schedule A - Assets and Liabilities of First Party: Detailed list of all assets and liabilities of the first party, including those from previous marriage
2. Schedule B - Assets and Liabilities of Second Party: Detailed list of all assets and liabilities of the second party, including those from previous marriage
3. Schedule C - Jointly Owned Assets: List of any assets already jointly owned by the parties
4. Schedule D - Previous Marriage Settlements: Summary of property settlements from previous marriages
5. Schedule E - Certificates of Independent Legal Advice: Signed certificates from each party's legal advisor confirming independent legal advice
6. Schedule F - Supporting Valuations: Professional valuations of significant assets mentioned in the agreement
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