Thursday, December 2, 2010

Prenuptial Agreements Expanded for Wedding Participants

Prenuptial agreements were normally contracts between the couple getting married. Now because of escalating wedding proceeding costs and increasing rate of divorce, wedding participants are now seeking attorneys to develop Prenuptial Agreements for wedding party participants and guests against the engaged couple.

In case the couple divorces, participants now want reimbursements for expenses incurred by being a member of the wedding party, i.e. gowns, shoes, tuxedo rentals, etc.  Along with guests, they are also seeking reimbursements for travel expenses.

Their reasoning is that people spend into several hundreds of dollars in preparation for and attendance to wedding proceedings, but seems wasted when couples divorce within a few years, or less.  More is spent when the event is located in a vacation environment such as a cruise or Caribbean resort.  Many participants coincide their vacation with the wedding proceedings, which could raise their expenses into the thousands of dollars.

The agreements have commonly stated the couple would reimburse participants on a pro-rated scale of 10% reduction per year if the couple divorced before their 10th anniversary.  Estimated expenses had to be submitted along with agreements and actual expenses had to be reported and updated into the agreement within 30 days after the wedding.

The 10-year period was selected figuring if the couple could survive that long, they would have figured out how to continue the marriage longer.

In case of infidelity, the injured spouse would be able to divorce the cheating spouse and be released from the prenuptial agreement, leaving the cheating spouse fully responsible for the indemnification of the prenuptial agreement.

In the case of death, not caused by a spouse, the agreement would be nullified. In case of spousal-incurred death, the surviving spouse would still be responsible for the indemnification of the prenuptial agreement.

Having previously attended a Caribbean wedding and knowing of others that have traveled to attend and participate in weddings that were costly and the coupled divorced within years, I wish I had several of these agreements in place. Oh, well, maybe for the next one.

Ok, this not real, just satire, but what if???
 

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