While the carnival of the week is that Justin Bieber and Hailey Baldwin secretly married earlier this week, the even more important news is that they may not have signed a marriage contract. With Justin`s net assets at $265 million and Hailey`s $2 million, it`s a huge wealth imbalance. Depending on the outcome of the marriage, this could result in a big payday for Hailey. Marriage contracts are recognized in Australia by the Family Law Act of 1975 (Commonwealth).  In Australia, a marriage contract is called binding financial agreement (BFA).  “Normally, we think of a marriage agreement as for people with important means of protection,” says Marcia Mavrides, a divorce lawyer in Massachusetts. “This is no longer always the case, and in fact, many millenial clients are renting Mavrides Law (my company) to help them with a prenup to protect them from student debts and their future spouse`s visas. Even though these individuals have considerable income potential, they realize that they should be responsible for their own student credit. The best part is that these couples discussed their financial situation in detail before hiring lawyers to design a prenupe, so there are no nasty surprises.
A marriage contract (or “Prenup”) is a written contract drawn up by two people before they are married, usually listing all the real estate each person owns (as well as all debts) and indicating the property rights of any person after the marriage. The marriage agreement in Thailand is signed on the basis of the mutual agreement of the man and woman who want to marry. Under Thai law, a marriage contract is recognized by Thailand`s commercial and civil code. A valid and applicable Thai marriage agreement requires by law where: in some countries, including the United States, Belgium and the Netherlands, the marriage agreement provides not only what happens in the event of divorce, but also to protect certain assets 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. In India, marital agreements are very rare and have no laws in force. However, in the face of rising divorce rates, there is a growing interest in them. Some legal experts believe that prenups have no legal sanctity in India.