Legal Specs

Information about Prenuptial Agreements

18 Jul 2008

A prenuptial agreement is basically a legal contract where the couple will agree to who will own what when married. Having a prenup will prevent a contested divorce. A contested divorce is when the couple can't agree upon how to distribute the assets. Contested divorces are a lot more expensive than uncontested divorces because they require a lawyer.

Prenuptial agreements don't have to last forever. You can add what is called a 'sunset clause', which is a specified time period where the prenup will be invalid. For example some couples may add a sunset clause that states that the prenup will become invalid after they have a child. Although sunset clauses vary from state to state, if you choose to ignore it, then your state may void your prenup.

In the US there are five requirements that must be met for prenuptial agreements to be binding. Every prenup must be written. There is no such thing as an oral prenup. It also must be signed voluntarily and performed before a notary. Fourthly, you can't marry under false pretenses. Finally, prenuptial agreements cannot be morally or ethically unfair.

Couples who have significant assets tend to agree that a prenuptial agreement is important and beneficial when it comes to keeping those assets divided. In the event of dissolution of marriage, those assets would be protected under the prenup.

Another couple who tends to agree that prenuptial agreements are beneficial are those that want to protect assets for their children. In a contested divorce, lawyers fight over who gets what and ultimately the probate court decides the final outcome. With a prenup you can prevent all that.

I'm sure most of you reading this are familiar with Hollywood style prenuptial agreements. They truly give prenups a bad wrap. Often times you'll hear newscaster's jokingly talking about what they call the 'bedroom clause'. It's a provision that celebrities tend to add to their prenup which state's the minimum amount of times the couple must engage in intercourse. I also noticed they enjoy to add things like how the husband or wife must maintain a certain weight or even appearance. With the kind of provisions these celebrities add it's no wonder some people deem prenups right away as being offensive.

Disclaimer: This article has been written for information and interest purposes only. The information contained within this article is the opinion of the author only, and should not be construed as legal advice or used to make legal decisions. Consult an attorney in your area if you're seeking legal advice.

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