Creating a prenuptial agreement is an excellent way for you and your partner to understand each other’s financial lives and practice working together in a possibly uncomfortable environment. Truly, the benefits of creating a prenuptial agreement with your spouse cannot be overstated — unless the agreement is ultimately unenforceable. Unfortunately, many prenuptial agreements crumble when they are called upon because of some error in creation.
Whether you want to use your prenuptial agreement to protect your spouse from your personal debt, to protect a business from potential divorce or anything in-between, it can do none of these things if it is not properly executed. Similarly, it is crucial that both parties fully participate and understand the implications of the process. If you present your spouse with an already fully formed prenuptial agreement and do not give them time to consider its terms and seek legal advice, the agreement may not stand up to legal scrutiny in court.
Furthermore, just because you can write a provision and that you both agree to uphold doesn’t mean the court will uphold it. If either party does not fully disclose all relevant information at the time of the agreement’s creation, particularly financial disclosure, the agreement may suffer. Provisions of a prenuptial agreement must also operate within the law and must not treat either party too unfairly. If a judge believes that some provision or another is unfair, then they may strike that provision or possibly invalidate the entire agreement.
Prenuptial agreements are a wonderful way to care for your spouse, but cannot do so if proper care is not taken in the creation of the agreement. If you are ready to create an agreement that honors and protects your marriage, do not hesitate to reach out to an experienced attorney to ensure that all parties rights remain secure and that the agreement itself is sound.
Source: Findlaw, “Top 10 Reasons a Premarital Agreement May be Invalid,” accessed May 25, 2017