In a perfect world, married couples look forward to living happily together for the rest of their lives. But the world is far from perfect, and thousands of American couples file for divorce each year. This explains why more and more engaged couples are signing prenuptial agreements before tying the knot.
A prenuptial agreement is a legal contract that soon-to-marry couples sign to separate their personal property from any marital property in the event of a divorce. A prenup, as it is commonly known, can give you peace of mind knowing that no one will interfere with your hard-earned wealth should the marriage fail to work. This is especially important if you are getting into a marriage with a substantial amount of assets, if your soon-to-be spouse has a significant debt or if you have children from a previous relationship.
But not all prenups are valid. The court can void your prenup under the following circumstances:
When there is evidence of fraud
While prepping the prenup agreement, each party must make full disclosure of their assets and liabilities. A failure to do so amounts to fraud, and this can form the basis for challenging the validity of the prenuptial agreement in question.
When there is evidence of coercion
A prenuptial agreement can only be valid if it is signed voluntarily. For instance, your spouse cannot threaten to call off a wedding if you decline to sign the prenup. Of course, coercion can be difficult to prove without concrete evidence or a credible witness statement.
Also, you cannot sign a prenup when you are not in sound mind. For instance, a prenup that you sign while under the influence of alcohol or drugs could be declared invalid.
Protecting your rights
A prenup is a binding contract, one that can significantly impact your property division case should the marriage end in divorce. Find out how you can safeguard your rights and interests while signing the prenuptial agreement.