This document contains a list of clauses used in premarital agreements, followed by the full clauses used in the agreements. The 38-page document also contains general comments on negotiating, drafting, and execution of premarital agreements.
Virginia Prenuptial Agreements - General Comments on the Negotiating, Drafting and Execution of Prenuptial Agreements
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FAQ
The Agreement was Coerced or Signed Without Mental Capacity For a prenuptial agreement to be considered legally valid, it must be signed by both parties voluntarily , and both parties must be of a mental ability to understand the consequences of what they are signing.
Generally speaking, both fiance's should hire attorneys to negotiate and draft a prenup on their own behalf, because the agreement may not be enforceable without involvement of separate legal counsel. Most lawyers representing parties in prenuptial negotiations act as if it the entire transaction is purely business.
A prenup protects the premarital assets of one or both parties and allows a couple to contemplate the division of assets prior to the marriage. More importantly, it allows a couple to consider these issues prior to a divorcewhen neither party is angry or emotional.
Virginia law requires premarital agreements to be is in writing and signed by both parties. The agreement is enforceable without consideration and becomes effective upon the marriage.
Hire a lawyer to draft the agreement for one spouse, then have another lawyer read over the agreement for the other spouse. Draft the prenup yourself (or, more commonly, use a template), then have each spouse hire a lawyer to review the agreement.
Both the future husband and wife must sign the prenuptial in the presence of at least 2 witnesses and the agreement must be entered into the Marriage Register together with the marriage.
Deceitful Information: A premarital agreement is only valid if it's entered following full disclosure by each party concerning their income, any assets, and obligations. If one party provides the other party with information that isn't true, it invalidates the agreement.
Generally speaking, prenuptial agreements are enforced if they meet these basic requirements: The agreement addresses the rights and responsibilities of each party in property of either or both. The agreement is in writing and is signed by both parties prior to their marriage.
Issues that are typically dealt with in a prenuptial agreement include spousal support in the event of separation or divorce, including whether the couple will waive spousal support, arrangements regarding care and support of children that either party may have from a prior relationship and how those support payments
Truth 4: Prenups can protect both spouses. For the prenup to be enforceable, the agreement must: be fair. have both parties sign voluntarily with the presence of their lawyers. not be completely one-sided as of the date it's signed.
