Getting your soon-to-be spouse to sign a prenuptial agreement does not imply that you are planning to divorce someday. Rather, it means that you are keen to protect both parties’ interests should things fail to work out.
However, for your prenuptial agreement to be enforceable, you must get it right. The last thing you want is to learn, albeit with immense dismay, that the prenup document you invested a great deal of time and resources in creating is useless.
Here are three reasons why most prenuptial agreements fall through the cracks.
While creating the prenuptial agreement, each party must make full disclosure of their assets and debts. If you or your spouse withholds information regarding what you own (or owe) while creating your prenup, the entire document may be invalidated on grounds of providing false information.
Both parties must sign the prenuptial agreement freely. If your spouse coerced you into signing the prenup, you may petition the court to invalidate it. Of course, proving coercion can be quite difficult. However, if you have credible evidence, you can successfully have the document invalidated.
Also, if you did not have the mental capacity to understand the implications of the document you signed, you can successfully petition the court to invalidate the document. Lack of mental capacity can happen if you were under the influence of drugs or alcohol at the time of signing the document.
Inclusion of unconscionable terms
A prenuptial agreement that is outrightly unfair to one party will definitely be invalidated. For instance, a prenup that requires you to up your right to inheritance upon your spouse’s demise can be deemed unconscionable. The court can also invalidate a prenup agreement if it is established that it contains absurd provisions, is extremely lopsided or if it is likely to cause financial hardship to one party.
A prenuptial agreement can give you peace of mind knowing that your personal property will be protected should your marriage end in divorce. Find out how you can create a valid prenup agreement.