A Prenuptial Agreement is a document prepared by a couple in anticipation of marriage. It may determine the rights and obligations of the parties upon death and/or divorce. Prenuptial Agreements (and postnuptial agreements) are becoming more common, particularly in situations where there is a significant disparity in the assets or incomes of the individuals who intend to marry. These agreements are becoming more enforceable, provided certain protections are afforded to the parties.
In order to be enforceable, Prenuptial Agreements should be executed as far in advance of the wedding as possible. There must be full disclosure of financial information by both parties. The provisions of the Agreement must be fair and reasonable at the time of execution, and “not unconscionable” at the time of enforcement. Each party should have independent legal counsel prior to the execution of the Agreement. A Prenuptial Agreement has long term consequences. You should discuss and understand your rights and options with an attorney knowledgeable in this area of the law.