If you get married and the relationship doesn't work out, you may be at risk of losing a significant amount of your financial assets, particularly if you are the sole breadwinner in the household. This is why it is very common for high-asset individuals to ask their fiancés to sign a prenuptial agreement before marriage. This document should theoretically ensure that one spouse does not walk away from a failed marriage with their ex-spouse's hard-earned assets.
However, prenuptial agreements can be contested by the divorcing spouse in some circumstances, meaning that the asset division process continues to be subject to standard state law procedures. If you are considering whether to pursue a prenuptial agreement or you are worried that the prenuptial agreement will not hold up at divorce, you should take the time to understand how the law applies.
Prenuptial agreements can have many different clauses
Prenuptial agreements tend to be easier to uphold if they are reasonable. The terms within the agreement can vary widely. Some can protect the inheritance rights of children and grandchildren from a previous marriage, whereas others could try to prevent a divorcing spouse from gaining any spousal support at divorce. If the terms are unfair and unreasonable, it may be possible for a divorcing spouse to contest the agreement at divorce.
How can prenuptial agreements be contested?
Prenuptial agreements can be contested in many ways, but common arguments include claiming that the prenuptial agreement was forced upon them directly before the marriage, or that they were not given enough time to read through the agreement.
If you are going through a divorce and you have a prenuptial agreement in place, it is important that you learn about how it could protect your assets.