All prenuptial agreements are not created equal and many may even be deemed invalid if not properly created.
More and more people today are taking advantage of the benefits of prenuptial agreements. Maryland couples can not only outline provisions designed to protect their assets in the event of an eventual divorce but they can also protect their reputations.
CNBC explains that many prenups now include clauses that govern what can and cannot be posted on social media during or after a divorce. There can be costly repercussions for people who violate these clauses-if the prenuptial agreement is actually valid, that is.
What would make a prenuptial agreement invalid? As noted by Forbes, there are several things that can easily happen or be overlooked that result in what some may have thought was a legitimate contract being essentially thrown out. This is why working with an attorney to create a prenup is essential.
The attempt by one party to control things like the other person’s hair color or weight is not a reasonable use of a prenuptial agreement. Provisions like these are likely to be nullified and may cause the entire prenup to be nullified. An experienced attorney can help to avoid these pitfalls.
Lack of full disclosure
The creation of a valid prenuptial agreement requires that both parties provide a full and accurate view of their financial assets and liabilities. An attorney who knows how to develop a prenup can help guide couples through this process so that the contract is not later set aside.
There are many things that contribute to the legality of a prenuptial agreement. For example, the contract must be in writing. While working with an attorney highly encouraged, there should not be just one attorney involved, but two. Each partner should have individual representation.
Whether via preying on someone’s emotions or impairing their judgment with drugs or alcohol, if one party is forced into signing a document while somehow not fully approving, a contract can be invalidated. The involvement of an attorney through the process may help to avoid this.
The default prenuptial agreement
At the end of the day, every married couple has a prenuptial agreement, just like every person has a will. How can this be? It is called the law. Estates of people who die without actual wills are distributed according to specific probate laws. Similarly, marital assets may be split according to state property division laws.
Maryland residents who want to direct how their premarital and/or postmarital assets are to be treated if they divorce should reach out to an attorney who has experience drafting prenuptial agreements well in advance of the wedding to timely solidify these issues.