When considering a premarital/prenuptial agreement, you should seek the advice of an
experienced family law attorney. There are many requirements to ensure that the agreement
is enforceable, and it could be costly if it is not drafted right. For example, the agreement must
be executed voluntarily, and the parties should fully disclose their assets prior to the
execution. The premarital agreement must not be unconscionable and could be deemed
unenforceable if it is vastly unfair to one of the parties.
Each party should have their own attorney to advise them on the agreement. The premarital
agreement should be negotiated and signed in good time prior to the wedding date. If the
premarital agreement is signed too close to the wedding date, one side could later claim
duress.
For spouses who chose not to have a premarital agreement, but later want a contract to
determine terms in case of divorce, we suggest a postnuptial agreement.
A postnuptial agreement is for parties who are not contemplating divorce at the time the
agreement is prepared but are married already. For spouses who intend to file for divorce,
they should resolve issues through a Marital Settlement Agreement. Consult with an
experienced attorney if you have assets to protect and are interested in a premarital or
postnuptial agreement.