Franklin Law PLLC
PRENUPTIAL AGREEMENTS

Franklin Law PLLCWith about 50 percent of marriages today ending in divorce, it makes sense to prepare for this possibility by entering into a prenuptial agreement. This is particularly true if the union is a second marriage and one or both parties have children with previous spouses. A prenuptial agreement can ensure that assets intended for your children will in fact be preserved for them, and will not go to your spouse in the event you divorce. In situations where there is a large disparity in the wealth of the two parties, a prenuptial agreement may be advisable to protect the rights of the spouse who had greater assets going into the marriage. A prenuptial agreement can also be a very useful tool if divorce does occur in the future, saving time and money by simplifying the proceedings.

DID YOU KNOW?
A prenuptial agreement’s enforceability may depend on a variety of factors, including: full disclosure of facts before the contract; issues relating to fraud, duress, mistake or misrepresentation; unconscionability; and significant changes in fact.

 

CRUCIAL MISTAKE TO AVOID
Assuming that merely because you have entered into a prenuptial agreement, your assets will be protected in the event of a divorce.
 
Just because a prenuptial agreement exists does not mean it cannot be attacked during divorce proceedings.  To protect against this happening, the prenuptial agreement must be drafted in such a manner that keeps it free from a different interpretation – one you may not have intended – and free from issues relating to its enforceability.

 

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