When a couple gets married, most expect to spend the rest of their lives together. And while this does sometimes happen, for the just-in-case it’s best to make sure to have a prenuptial agreement in place before walking down the aisle. However, aside from making sure to have a prenuptial agreement to protect assets, it’s also important to make sure that the agreement makes sense, is fair to both parties involved, and would be enforceable should it ever be needed.
In terms of making sure the prenuptial agreement is enforceable and cannot be broken in the case of divorce, it’s important to make sure that all assets are clearly laid out in the original agreement. This means no hidden assets. If assets are found to be hidden, this can be grounds for a judge to overturn the stipulations of a previously agreed upon prenuptial agreement.
Outside of hidden assets, there are also others reasons for a prenuptial agreement to be set aside, including unenforceable conditions. For example, if an agreement says a husband will not pay child support in the event of a divorce, the agreement would most likely be thrown out. Or, if there is a stipulation where alimony will not be awarded in the case of divorce, but one of the spouses develops an illness during the marriage and cannot care for themselves, there is a good chance the original prenuptial agreement could then be thrown out.
One family law expert said that prenuptial agreements are in about half of all high-net worth marriages. And, while prenuptial agreements used to be rather taboo, over the years as couples have realized the agreements really can protect assets, more and more are opting to fill out the paperwork before getting married.
Of course, creating and negotiating a prenuptial agreement can be tricky business. Fortunately, a family law attorney in Missouri with experience in drafting these types of agreements can help to walk a person through the process.
Source: Reuters, “Breaking up is hard to do, breaking prenup is harder,” Geoff Williams, Oct. 5, 2012
