Understanding How Prenuptial Agreement Works

Divorce Lawyer in AlbuquerqueMany couples shy away from signing a prenuptial agreement as they fear that this may indicate the inevitability of divorce. Conversely, the opposite is true. It can help couples settle certain things ahead of time.

For a prenup to be valid, it must be in writing. While some states don’t require you to use an attorney to create the agreement, it’s important to consult an experienced divorce attorney in Albuquerque when planning to draft a prenuptial agreement.

Why get a prenuptial agreement?

A pre-nuptial agreement can be an excellent tool for couples to establish their financial rights in the event of a divorce. This may help in securing personal assets, protect any family business and care for the children.

Prenuptial agreements vary depending on the assets, liabilities and the couple’s wishes. Another great advantage of getting a prenup is that you get to settle certain issues before, meaning that when you decide to get divorced, the process will be faster and less expensive.

Both spouses must voluntarily execute the agreement, meaning that they have to fully disclose their assets and liabilities and must sign on the agreement form in the presence of a notary.

When is a prenuptial agreement unenforceable?

Certain conditions may make a prenuptial agreement unenforceable. These include a situation where:

  • One party never read the document before signing.
  • One party failed to fully disclose their assets or undervalued them.
  • The agreement was signed without mental capacity, signed under duress or one party was coerced to sign.
  • One party signed without a legal representation as required by some states.
  • One party was never given time for consideration.
  • The documents weren’t properly signed or executed.
  • The agreement contains invalid provisions such as frequency of sexual relations, no child support or a section on visits by in laws.
Recommended:  Remember These When You Claim a Tax Deduction for Your Vehicle Donation

A prenuptial agreement can be challenged by an experienced divorce lawyer. One will give you an evaluation of your strengths and weaknesses and advice you on the way forward. If you’re thinking of drafting a prenuptial agreement, consult a divorce attorney to ensure that you include all the necessary provisions.

Related Posts