Today it is becoming more common, especially in second marriages, for spouses to sign an agreement that would resolve most monetary issues in the event of a divorce. Prenuptial agreements are effective in identifying assets that one party has prior to the marriage and determining what happens to those assets in the event of divorce. At Abramson and Rand, LLC, we will help you draft a prenuptial agreement that protects your particular needs.
Prenuptial agreements are treated as contracts. It is presumed that a prenuptial agreement will be utilized and followed in the event that spouses get a divorce. If someone challenges a prenuptial agreement, it will be that person’s burden to prove that the prenuptial should not be enforced. This is a difficult, but not impossible, task. The court will consider such things as:
- Did each spouse make a fair and reasonable disclosure to the other of his/her financial status?
- Did each spouse enter into the agreement freely and voluntarily?
- Was there overreaching?
- Did each party fully understand the prenuptial agreement?
- Did the parties have time to review the agreement before signing it?
- Is enforcement of this agreement unconscionable?
- Was there unequal bargaining power?