Moroccan football star Achraf Hakimi broke up with his wife, Hiba Abouk, in April 2023. Rumours originally circulated that Abouk had demanded half her husband’s wealth only to find that he had put all his wealth under his mother’s name. Therefore, entitling her to nothing. Abouk and Hakimi had been together for five years and married for three. Abouk released a statement about the separation a day after the announcement of Hakimi’s sexual assault case in Nanterre, France. Hakimi’s mother, Saida Mouh, denied knowledge of the wealth being placed under her name.
However, the news that Hakimi used his mother to hide his estate is unfounded. In Europe, where Hakimi lived, there are two types of marriage:
- Marriage in community of property- the spouses share everything acquired during the marriage in the event of a divorce
- Marriage in the separation of property- non-division of the property acquired during the marriage is stipulated in the contract
Hiding wealth from your spouse is considered fraud.
In Kenya, the Matrimonial Property Act states that separately owned property will remain the spouse’s property upon divorce. If your spouse improved the previously owned property, they are entitled to an interest. If you retain the separately owned property from the jointly owned property, you retain 100% interest in the properties. Otherwise, you can enter a prenuptial agreement to separate personal and matrimonial property.
What you need to know before getting a prenuptial agreement
The Matrimonial Property Act 2013 recognises couples can agree to determine their property rights before marriage. A court will only recognise a prenup if it is entered before marriage and if it is fair. Before signing a prenup, disclose all assets and liabilities to give you enough knowledge to know what to contest. Ensure that you both disclose all debt information and the accurate value of all properties. You can contest the prenup for misrepresentation or fraud if a partner hides assets.
Prenuptial agreements are not admissible if they’re signed under duress or coercion. If a partner forces you to sign a prenup or they could call off the wedding, such a prenup can’t be enacted. Each partner should get legal representation to draft a proper agreement.
The agreement takes note of the property titles acquired before marriage. If the property is then to be jointly owned during the marriage, the agreement can stipulate that it reverts to the initial owner in the event of separation. It also considers if the property was purchased jointly during cohabitation. Finally, the prenuptial agreement defines the ‘Termination Event’ and outlines the distribution of assets.
The prenup also dictates how much alimony is to be paid. Alimony is the financial maintenance paid to a partner upon the end of a marriage. Additionally, some partners prefer to be stay-at-home parents. A prenup can secure financial support for the partner who doesn’t have formal employment.
Read also: Couples And Money: How To Navigate The Minefield Of Marital Finances
Do you need a prenup?
A prenup is not necessary for every marriage. It’s also not just for wealthy people. Discussing money during divorce proceedings can be stressful. The prenup helps avoid tension because it’s a previously agreed-upon contract.
The prenup is best for couples under the following circumstances:
- One partner is wealthier. This protects their property and can help maintain the less wealthy partner’s lifestyle after the divorce.
- One partner will be a stay-at-home parent.
- One partner may get an inheritance they wish to secure as their own.
- Either of you has family dependents, such as a child from a previous marriage.
- If you want to keep premarital debts separate.
- If you are polygamous.
- If a prenup helps you feel more secure after a previous unsuccessful marriage.
Read also: Marriage: The Importance Of A Prenuptial Agreement And The Things To Include
What does a prenup cover?
A prenup should include the following:
- Initial assets and debts
- Assets and debts acquired during the marriage
- Children from previous relationships
- Succession in the event of death without a will
- Distribution of property after the divorce
- Spousal support after the divorce
- Non-disclosure agreements
- The expiry date
- Some people also include an infidelity clause. A no-cheating clause covers extramarital affairs. If one partner cheats, then they can be ordered to pay a financial penalty if the marriage falls apart. These are mostly done by rich or famous people.
- Family property and heirlooms that are family owned. You don’t want to lose your family heirlooms in a divorce. Therefore, you should specify this in the agreement.
- Spousal Responsibilities.
- Alimony. This is money paid to the spouse for maintenance after a divorce. You can actually put this in a prenup especially if one person is going to be a stay-at-home parent so that they are covered in case of divorce.
- You can also add a section on taking care of children. Parenting: Would You Consider Making Your Partner Sign A Baby Prenup?
A prenup doesn’t cover child custody, visitation rights, child support, duties distribution, or where to take holidays. A prenup can be amended in writing only if both partners can consent. If you have a will, ensure it does not conflict with the prenup.
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