What Could Ruin a Premarital Agreement

A prenuptial agreement, commonly referred to as a “prenup,” is a written contract entered into by two people prior to their marriage or civil union. And in many cases, it’s a fairly standard, straightforward document that protects each party and their assets in the event the union should split. If you’re entering into a union with significant wealth, property investments or the marriage will blend families, a premarital agreement is something you should probably consider. However, there are a few ways that one could ruin a premarital agreement. And these are things you would want to avoid.

What to avoid with a premarital agreement?

A prenup enables the couple to have the ability to select and control many of the legal rights they will gain by marriage, and what will happen when their marriage eventually ends by death or divorce. Here are the things to avoid in order to not ruin the premarital agreement.

Rushing

Establishing your premarital agreement is not the time to practice procrastination. It’s important that you give yourself, your significant other and your attorney(s) time to investigate and draft a thorough and quality contract. You’ll want to be sure to start this process with plenty of time before the wedding. This will allow you, your spouse and attorneys to review property interests, negotiate terms and draft an agreement that is enforceable.

Pressuring

It’s completely possible to establish a satisfactory premarital agreement without force, pressure or coercion. In fact, any of those things will likely ruin your premarital agreement. You’ll want to be prepared to compromise on certain things that are less important to you in order to establish a fair and considerable contract between you and your beloved. Communicating with your attorney through this process is critical. This will empower them to know which aspects on which to stand firm and which you are comfortable compromising.  

No waiver of disclosure

Failing to include a waiver of disclosure can render a premarital agreement unenforceable. Each party must sign the agreement voluntarily, and if that is not the case, the agreement is considered unconscionable. The agreement can also be deemed as unconscionable if the terms are outrageously one-sided and if the spouse was not provided financial disclosures or did not waive the disclosures.

Not specifying debts

Each party may bring debts into the marriage. If you overlook these debts when establishing your premarital agreement, it’s possible that the debt may be converted into marital debt, therefore becoming the burden of both spouses. By specifying individual debts that each of you bring into the marriage, the agreement will protect each spouse from becoming responsible for a debt their partner brought into the marriage.

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