universal partnership agreement
to some, the idea of entering a marriage is an exciting time of their lives and one of the most important decisions in life. the essence of the concept of a universal partnership agreement is about joint effort and the pooling of risk and reward. in terms of a universal partnership, a partner cannot have a direct claim to an asset owned by the other partner. in contrast to a marriage in community of property, the assets or estates are joined together into one estate on equal, undivided shares. a universal partnership, unlike a marriage in community of property, does not cause the partners to be joint owners of assets.