Why The Wording Of Your Prenuptial Agreement Is Important
Crafting a prenuptial agreement may not be the most romantic thing to do just before your marriage, but it can save you considerable heartache late on. That will only be possible, however, if you get the wording on your prenuptial agreement right. Here are some of the reasons the wording of your prenuptial agreement may render it invalid:
It Is Unconscionable
After you have drafted your prenuptial agreement, read it again to confirm that it is conscionable. A conscionable contract is one that isn't grossly unfair to both parties; its opposite is an unconscionable contract. Expect the courts to dismiss your prenuptial agreement if it deems it unconscionable.
For example, when your agreement states that you love your partner so much that you don't want any financial support from them, the court is unlikely to honor it. This is even truer if your partner earns a lot more money than you do.
Some of Its Provisions Are Invalid
There are some things that a prenuptial agreement cannot purport to do, and even if you attempt to do them, your actions will be futile. For example, a prenuptial agreement isn't the place to address child custody or support issues. So if you put it in your agreement that you bear the sole responsibility of raising your kids in case you divorce, don't expect your agreement to have any weight in court.
It Contains False Statements
A prenuptial agreement is legally binding if all of its statements and figures are true. Being dishonest denies your partner the opportunity to make an informed decision, which is vital in any contract signing. This means both of you must be utterly honest about their financial statuses and intentions. For example, lying about the value of your business or the income from your side businesses can render your prenuptial agreement useless.
It Is Incomplete
When it comes to prenuptial agreements, what you say is just as important as what you don't say. Anything that can affect the issues discussed in the prenuptial agreement must be treated with full disclosure. For example, if your prenuptial agreement discusses how to deal with debts, and you haven't disclosed your existing debts, the information may be deemed as incomplete.
Therefore, be careful with the wording used in your prenuptial agreement. Ideally, you should have the assistance of a family attorney when crafting the contract. At the very least, get an attorney to go over your agreement after you have drafted it.
Contact a local family law firm for more information and assistance.
