Prenuptial Agreement Attorneys
A prenuptial agreement attorney can help you prepare for what happens in case of a divorce. A prenuptial agreement (prenup) is a written agreement signed by the parties prior to their marriage. It basically defines everyone’s rights and responsibilities if the parties end up in divorce court after the marriage. So if everything goes well, it will save the parties from an expensive time-consuming, aggravating divorce, and the divorce will go forward quickly and expensively.
The judge will decide what to rule in the divorce case based upon what is in the prenuptial agreement. The decision would be about division of property and debt, support for the other party, and other matters that are in the prenup.
Prenuptial Agreement Attorney
While you do of course have to pay for the proper preparation of the prenuptial agreement by an attorney, it is like insurance. Nobody likes to pay insurance premiums, but they’re glad that they have the insurance if there’s a fire. (because the parties are deciding in advance about what would happen in the event of divorce).
As with any legal document there is a chance that the other party will seek to have it declared void and ineffective during the divorce. They may say, for example, that they were not given full financial disclosure of the other parties’ financial condition before signing, or say that they were forced to sign the prenup, or say that it was presented to them too short a period of time before the wedding such that they had inadequate time to evaluate it. (it’s not mandatory that the other party have a lawyer. And usually the prenup should not be voided out just because a party claims they didn’t understand it. The response would be, you signed it, you’re stuck with it). For these types of situation it’s good to have a prenuptial agreement attorney on your side as they have lots of experience dealing with the types of curveballs the other party throws at you during the divorce.
Prenuptial Agreement Lawyer
Certainly if the party making that claim had a lawyer, the judge would probably have a hard time believing that the party wasn’t explained what the prenup was about. And even if it was shown that the lawyer didn’t explain the prenup properly, the response might be, “tough luck, you should have picked a better lawyer.”
But a properly drafted prenup should withstand any challenges as long as the procedural steps such as full financial disclosure are accomplished. It should be noted that parties can sign a postnuptial agreement after the wedding, basically accomplishing the same goal as with a prenuptial agreement.
Prenuptial Agreement
Another thing a prenuptial agreement attorney will explain to you is what full financial disclosure is and why it is important. If you don’t make full financial disclosure to the other party, they could argue at the time of the divorce that the prenuptial agreement should be declared void. The argument might be something like, “if you would have given me full financial disclosure before I signed the agreement, I never would have signed it.” (i.e. if I had known your true financial condition I wouldn’t have signed the agreement).
Prenuptial Agreement Attorney
So let’s say that one party says in their financial disclosure affidavit that they are worth $200,000 and that their income is $60,000 per year. And let’s say that their true net worth was $600,000, and their income was really $120,000 per year. Now whether it was through intentional misleading or through negligence, the parties’ financial condition was stated incorrectly. The other party who is trying to have the prenup voided out would argue that they would not have signed the prenup if they knew the other parties’ true financial condition.
If the judge concludes that that is true, and that the misstatement of income or new worth was material and substantial, the prenup may be declared void and of no effect. (Note that if the complaining party had knowledge of the other party’s actual net worth and income, the result might be different).
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