Before a couple ties the knot, they may opt to create a prenuptial agreement to safeguard their assets and determine how their newly acquired assets will be treated in the event of a divorce. To ensure this type of legal agreement does not get invalidated, the terms outlined must be fair for both parties. If a prenuptial agreement is not fair, it is not enforceable. Continue to follow along to learn more about prenuptial agreements and how a seasoned Rockland County Prenuptial Agreement Attorney can help you ensure your agreement is fair.
What makes a prenuptial agreement fair?
To ensure a prenuptial agreement is fair, both parties must put all of their cards on the table. This means you must disclose all of your assets and financial obligations. In addition, the agreement cannot be one-sided. Essentially, one party cannot receive all assets while the other receives a small portion of their shared marital property. When one spouse gets everything in the event of a divorce, it could leave the other party with nothing unfair. Moreover, one of the best ways to ensure your agreement is fair is to keep the future in mind as circumstances usually change from when you first enter marriage. Couples should reach a mutual agreement on all of the outlined terms to ensure a favorable and fair prenuptial agreement.
What makes it unfair?
An unfair prenuptial agreement typically leaves one spouse high and dry. As mentioned above, both parties need to safeguard their assets. This means they must ensure there is a fair agreement on critical issues such as the division of assets, child custody, spousal support, and child support. Essentially an unfair agreement is one-sided. In addition, when creating a prenuptial agreement, both parties must be willing to enter into this type of legal agreement without intimidation or pressure from the other party. If one party puts significant pressure on the other party to agree to the terms of an unfavorable agreement, they can challenge it later on. In addition, as mentioned above, if your spouse fails to disclose their finances it can lead to an unfair agreement. To ensure your prenuptial agreement is enforceable, you must ensure that one party is not deprived of everything. If one spouse is awarded everything, the other spouse will have nothing to fall back on. When drafting your prenuptial agreement, you must ensure your agreement protects both parties.
For more information on how you can ensure your prenuptial agreement is fair, contact a trusted Rockland County prenuptial agreement attorney. Our firm is committed to helping our clients ensure their prenuptial agreement does not get invalidated for being unfair. Allow us to assist you today!