Is It Possible To Have A “Bulletproof” Prenuptial Agreement?
While historically, only wealthy couples obtained prenuptial agreements, these days, they have become almost routine because of the headaches they can prevent later on.
What you may not realize, however, is that not only do these agreements need to be crafted carefully, but timing and other circumstances surrounding prenuptial agreements are also key in order to ensure that one spouse cannot claim that they were coerced into signing.
In sum, not all prenuptial agreements are created equal. Below, we discuss some tips on how to make yours as strong as possible.
The Sooner, the Better…
First and foremost, the ideal time for a prenuptial agreement is soon after an engagement. If it is addressed once that wedding plans have been made, it is possible for a spouse to later claim that they felt they had to sign the prenuptial under duress because they had already committed a number of resources towards the wedding.
…But it’s never too late To Put It in Writing
However, just because you failed to handle the prenup at least six months before the wedding doesn’t mean you should skip it altogether. Some couples even sign postnuptial agreements after they get married in order to ensure that everything is taken care of. Two of the biggest mistakes you can make are assuming that you do not need an agreement because you do not have enough assets and assuming that it is too late to make that agreement.
Honesty, Transparency & Full Disclosure
Transparency is also key to ensuring that a prenuptial agreement is bulletproof. Any prenup that is not based on full disclosure could possibly be challenged later on and similarly, either party being under the impression that the other party possesses more assets than they actually can also become a problem. Oftentimes, people simply overlook lots of the details, policies, old accounts, etc., and fail to bring them up.
It is also advisable that you and your spouse be separately represented when it comes to these agreements so that each attorney is best representing the interests of that particular client.
What They Can & Cannot Do
While prenuptial agreements can address many aspects of asset and debt division, they cannot prescribe anything that would be illegal, such as averting child support payments, or addressing child custody. The law and the courts ultimately have jurisdiction over certain issues based upon what is in the best interest of the child.
Florida Prenuptial & Postnuptial Agreement Attorneys
At the Arwani Law Firm, PLLC, our Florida family law attorneys have the very best experience in negotiating, preparing, and reviewing prenuptial and postnuptial agreements. Contact us at our Orlando office today to find out more.