posted in Prenuptial Agreements
on Wednesday, March 20, 2013.
The recent outcome of a high-profile divorce case has many in Stamford, Connecticut, wondering about the strength of their prenuptial agreements. The case involved a woman who was married to a man worth approximately $20 million at the time of their divorce. When it came time to address the division of property, the prenuptial agreement they signed was brought out and subsequently argued over for some time.
According to the agreement, the man would be allowed to keep all of the assets acquired by the marriage if divorce ever occurred. The man, already worth quite a sum at the time, gave this document to his soon-to-be wife just three months before they were wed in 1998. Even though the document promised her $25,000 for each year they were married, she refused to sign it. That was until another proposal came just days before their wedding.
With the wedding near, the man made one last attempt at getting her to sign the prenuptial. He said that he would rip it up once the couple had children, allowing her a share of the assets. But when the couple had children, he did not nullify the document. Instead, it was used during their recent divorce. Because of the events leading up to the signing of the document, as well as the husband’s choice to reportedly commit fraud, the court decided that the prenuptial was invalid.
Many are now concerned that their prenuptial agreements could be deemed invalid during the divorce proceedings, something that the document is designed to streamline. But experts are making sure to note that there were many factors involved in this high-profile case that led to the prenuptial being invalidated: time of signature before the wedding, contents of the document, and promises that were used to entice the wife into signing are likely the major factors here.
If you want to make sure your prenuptial will remain valid during divorce proceedings, consider allowing an attorney to draft the document.
Source: Babble, “Should a Marriage Involving a Prenuptial Agreement Be a Reason to Think Twice?,” Krishann Briscoe, March 12, 2013