A prenuptial agreement is a legal document that governs property relations between spouses in Estonia. It allows couples to determine how assets will be divided in the event of divorce or the death of one spouse. A prenuptial agreement helps prevent conflicts and ensures the financial independence of both spouses. It can also provide assurance that each spouse’s property will remain theirs if they separate.
1. Why is a prenuptial agreement beneficial?
Estonian family law allows spouses to choose their property relations during marriage. These property arrangements affect ownership rights, making a prenuptial agreement a useful tool for clarifying the financial rights and obligations of both spouses. A prenuptial agreement is recommended in situations where:
- one or both spouses are business owners and wish to protect personal assets from business risks;
- one or both spouses have property acquired prior to the marriage that they wish to keep separate;
- the spouses want to clearly establish their financial rights and responsibilities in case of separation.
2. 20 Questions to a Lawyer About Prenuptial Agreements and Answers
- What is a prenuptial agreement?
It is an agreement that regulates the financial relations between spouses. - When should a prenuptial agreement be made?
It can be signed before or at any point during the marriage. - How to draft a prenuptial agreement?
A prenuptial agreement is created in notarized form. - Can a prenuptial agreement be changed?
Yes, it can be changed, but modifications must also be notarized. - What are the main types of property relations?
The main types are joint property, separate property, and accrued gains compensation. - Does a prenuptial agreement affect inheritance?
Not directly, but it can establish how assets are divided before inheritance. - What does joint property mean?
Joint property means that all assets acquired during the marriage belong to both spouses. - What is separate property?
Separate property is property belonging only to one spouse, with the other spouse having no claim. - What property qualifies as separate?
Property owned before marriage, or received as a gift or inheritance, remains separate. - Does a prenuptial agreement cover all assets?
No, spouses can choose which assets are included. - How does a prenuptial agreement affect business?
It protects personal property from business risks. - Is a prenuptial agreement effective for third parties?
Yes, if it is registered in the marital property registry. - What if one spouse doesn’t want a prenuptial agreement?
It is advisable to discuss potential consequences and seek legal consultation. - Can a prenuptial agreement be canceled?
It can be canceled with mutual consent and notarization. - How is property divided in case of divorce?
According to the prenuptial agreement’s terms or, if absent, by law. - What is compensation for accrued gains?
It is the proportional division of property gains between spouses. - Does a prenuptial agreement protect from creditors?
It can protect certain assets, depending on whether creditors are aware of the agreement. - Does a prenuptial agreement affect housing rights?
Yes, it can establish the right to use or own the residence. - Can a prenuptial agreement be drafted without a lawyer?
Legal advice is recommended to cover all legal aspects. - What is the cost of a prenuptial agreement?
Prices vary depending on notary fees and agreement content.
3. Practical Examples
- Reducing Business Risk: A couple, one of whom is a business owner, signed a prenuptial agreement to ensure that business debts would not affect the other spouse’s assets.
- Protecting Inherited Property: One spouse had real estate acquired before marriage. The prenuptial agreement ensured it remained separate property, excluding it from any potential division.
- Property Division in Divorce: After a divorce, the couple was able to divide assets peacefully, thanks to the prenuptial agreement that clearly outlined their rights to each part of the property.
If you have questions about drafting a prenuptial agreement or need legal assistance, we recommend contacting sworn attorney Ilya Zuev.
