Avoid Making These Costly Mistakes in Your Prenup
A prenuptial agreement, or “prenup,” is a contract that is executed between you and your soon-to-be spouse before marriage. It is not mandatory for your marriage by any means, however, many couples enter a prenup agreement because it allows them to have control over their property and assets rather than the state.
If you and your future spouse choose to formulate a prenup, you must both disclose all your assets, properties, and debts and outline how they will be divided in case you get a divorce or you and/or your spouse die. Prenups also establish the rights and responsibilities you and your spouse will have during the marriage.
With all of this in mind, it is not surprising that prenuptial agreements can be complex and meticulous, explaining why many couples make certain mistakes that result in their prenups being invalid and unenforceable. As such, our Hinesville divorce attorneys describe five common prenup mistakes below. Please contact us at (866) 580-3089 should you have any questions.
No independent legal representation: If you and your spouse do not retain separate attorneys, a judge may shed more concern on the unfairness and bias in your agreement. As a result, your prenup may not be enforceable by the court. This is because a lawyer will help you fully understand the provisions and implications of your agreement and confirm that your signatures are voluntary.
Hiring an attorney will ensure your prenup functions in your best interests and doesn’t compromise any of your legal rights, assets, and debts. Not to mention, your lawyer can ensure the language in your contract is clear and precise, leaving no room for ambiguities and subsequently, legal challenges.
Coercion/duress: Prenups must be voluntarily entered by both spouses without any pressure, threats, or force to one another. A judge will likely invalidate a prenup if they discover that one spouse used coercive tactics to manipulate the other spouse into signing such contract. For instance, getting your spouse to sign a prenup while they are mentally incapacitated or under the influence could result in unfavorable outcomes in court. To best avoid these challenges, be patient and understanding with your spouse as they contemplate signing a prenup.
Using ambiguous language: Since prenups are contracts, you must use clear and concise language at every point in your agreement. Any unclear verbiage and ambiguities could only make your situation worse if your spouse decides to legally challenge a confusing provision in court. This is another reason why hiring a divorce lawyer, as mentioned above, could benefit you; they are professionals at drafting marital settlements. It’s their job.
Unfair provisions: Although prenups can be biased, they cannot favor one spouse over the other in a way that is unconscionable and unfair to a reasonable person. An example of an inequitable provision is if one spouse decides to leave their other spouse with nothing should they divorce or die, forcing that spouse to survive off of State welfare. As such, a judge may not enforce a prenup if it contains inequitable provisions.
Fraud: Honesty is the best policy, especially if you want to enter a prenuptial agreement with your spouse. For a prenup to be effective and enforceable, both spouses must fully disclose their assets, properties, and debts honestly, no matter how uncomfortable the process may seem. It will be impossible to establish the division, rights, and responsibilities concerning those critical details if both spouses don’t lay out everything they own and owe. If a judge finds that one spouse hid their assets from the other, they may invalidate the contract as such.
Are you unsure if a prenup is right for you? Do you have questions regarding your current prenup? Whatever questions you have, count on Balbo & Gregg, Attorneys at Law, PC, to provide the clarity you need and deserve.
To speak with us about your situation, contact us at (866) 580-3089!