Approximately half of all marriages in the United States ultimately ending in divorce. That is why it is so important for future spouses to, at least, consider the possibility and think about how to best protect themselves. This can be an especially tricky and uncomfortable conversation, especially with a wedding on the horizon. But, creating a prenuptial agreement, or prenup, between two parties could save a couple from major headaches, issues and even save money down the line, if the marriage were to break down.
Prenuptial agreements do need to meet certain criteria to be considered valid, and failing to follow the criteria may lead to an invalid prenup. Some of the reasons, like the prenup being in writing and signed by both parties are simple and oblivious, but other issues are a bit more complex.
For example, the law requires that the prenup is created and agreed upon mutually by both parties. This means that one spouse cannot pressure another spouse to sign it, time is allowed for each spouse to consider all the provisions and that each spouse has fully read and understands it. The prenuptial agreement must also not contain invalid provisions, such as modifying potential child support obligations. Including invalid provisions within the agreement may also make it possible for the courts to dismiss the entire document, not just the invalid or illegal provisions.
Lastly, the prenuptial agreement must not contain any false or incomplete information, and it must be both party's understanding that everything contained within the agreement, including financial information. This information includes incomes, assets and liabilities. Finally, all of these financial disclosures must be truthful.
Source: FindLaw.com, "Top 10 Reasons Premarital Agreements May be Invalid," accessed on March 15, 2016