Prenuptial agreements (prenups), also known as premarital agreements or marital contracts, clarify expectations and protect engaged couples. Prenuptial agreements are common in cases where either person is divorced or when both people intend to work but also hope to have children.
Those with demanding careers, valuable assets or a likely future inheritance may also want to protect themselves with a prenup. Ensuring that the document is valid is key, as it may otherwise end up set aside if the couple divorces in the future. What are some of the most important requirements for a valid prenuptial agreement?
1. Separate legal guidance
People sometimes challenge a prenup by claiming they did not understand the document or did not have legal advice. It is therefore generally beneficial for each party to retain their own attorney while negotiating the agreement to help ensure that it is valid and enforceable if they divorce later.
2. Balanced terms
The courts may set aside any contract that is unconscionable or unreasonably imbalanced. Premarital agreements generally need to extend protections to both spouses to withstand scrutiny in the event of divorce later.
3. A focus on practical details
Some people integrate far too many personal and private matters into their prenups. Not only are those terms typically unenforceable in family court, but they can raise questions about the overall validity of the document in some cases.
Having the support of an attorney when negotiating terms for an agreement or preparing to sign a document drafted by a spouse-to-be can be critical. Prenuptial agreements can protect both spouses and help prevent messy divorces if people take the right steps when drafting them.