Anyone with substantial assets or income considering a second (or sometimes first or third) marriage should give careful thought to entering a prenuptial agreement.
A prenuptial agreement can help preserve assets and/or income for children from a previous marriage or simply allow someone to preserve their accumulated assets.
The agreement in its simplest form provides a description of the assets of each party, and in the event the parties get divorced or die, the new spouse waives any claim to the assets the other party owns at the time of the marriage.
In most cases the agreement is sustained by courts when challenged. In order to ensure the agreement withstands a legal challenge, several pitfalls should be avoided.
- Make it fair; a one-sided agreement may not withstand a court’s scrutiny.
- Do not sign it at the last minute. Signing a month or more before the wedding is recommended.
- Put everything in writing; do not rely on oral side agreements.
- Do not omit assets. A material omission of assets can lead to a claim of fraud with the agreement disregarded.
- It seems obvious, but both parties should have their own attorneys.
We Can Help
At the Law Office of Charles H. Gross, we are committed to providing expert legal counsel to our clients in Lenawee County. Prenuptial agreements can be confusing. Ensure that your prenuptial agreement is handled correctly. Contact Chuck at 517-423-8344 or contact Chuck online.