Prenuptial Agreement Laws
Although prenuptial agreement laws vary by state, all require certain conditions to be included in the agreement, including that the parties sign the agreement. Prenuptial agreement may be deemed null and void by a court if these conditions are not properly met.
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General Requirements
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There are certain general requirements for a prenuptial agreement to be valid. It must be in writing, contain complete disclosure of all assets and liabilities of each party and be signed by both parties. Although not a requirement, a prenuptial agreement may contain other information, including division of assets upon divorce or the death. It may also dictate child custody, child support and spousal support terms.
Financial Affidavits
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The easiest way to ensure complete disclosure by the parties is to attach a family law financial affidavit for each party to the prenuptial agreement. This is more commonly used during a divorce or legal separation and outlines a party's income, assets and liabilities, including contingent assets and liabilities.
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Challenging a Prenuptial Agreement
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A prenuptial agreement may be challenged at the time of or just before an impending divorce or separation. If the court finds for the challenging party, the prenuptial agreement, which is a contract between the parties, becomes null and void.
Duress
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The agreement must have been entered into voluntarily. One party may not coerce the other into signing the agreement. If a court determines that a party was coerced into signing the agreement, the agreement may be deemed null and void. One of the parties may claim duress if there was only a short time between the signing of the prenuptial agreement and the date of the wedding.
Failure to Disclose
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A premarital agreement may be deemed null and void if it one or both of the parties did not disclose all assets and liabilities. If one or both of the parties owns a business, that fact must also be disclosed, including the worth of the business. If the owner personally guaranteed any loans or has assets in his or her name, those liabilities and assets must be listed separately.
Public Policy
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If an agreement directs one of the parties to commit an illegal act or limits visitation or child support, it may be deemed null and void. In most states, child support is determined by a formula based on one or both parents' incomes. If you wish to make an unconventional agreement regarding child support, you should contact an attorney before signing the agreement.
Disclaimer
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The information in this article was written by a non-attorney and is not legal advice. If you need legal advice, contact an attorney in your state.
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