Prenuptial Agreements - General Comments on the Negotiating, Drafting and Execution of Prenuptial Agreements
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FAQ
A recent release of a paper by a Harvard Law School Olin Fellow explains that about 5 percent of married people have such an agreement, although the facts are that more then 50 percent of marriages end up in a divorce.
Separate lawyers. Both partners need access to all relevant information when they are discussing the agreement's terms. Keep it simple. Don't attempt to write the agreement yourself. Be fair. Professional degrees. Personal banking. The final document.
Broach the topic early. Hire an attorney who understands the difference between a divorce negotiation and a prenup negotiation. Understand what is important to your partner.
In California, individuals can draft their prenups. However, without a legal background, it is easy for the prenuptial agreement to be invalidated.Other requirements include a written contract, legal terms within the prenup and the voluntary signatures of both parties.
2. Prenups make you think less of your spouse. And at their root, prenups show a lack of commitment to the marriage and a lack of faith in the partnership.Ironically, the marriage becomes more concerned with money after a prenup than it would have been without the prenup.
The agreement was signed under fraud or duress; The agreement is unconscionable; The circumstances of the parties have changed, making the agreement unenforceable at this time.
A good prenuptial agreement should be fair. It should be entered into between two consenting adults who know what they are doing. The agreement should be fair when it is signed and entered into, and also fair when it is be enforced, whether in the event of a divorce or death.
A prenuptial agreement ("prenup" for short) is a written contract created by two people before they are married. A prenup typically lists all of the property each person owns (as well as any debts) and specifies what each person's property rights will be after the marriage.