These provisions can iclude the present circumstances and extend into the future, providing a comprehensive framework for potential scenarios. It is important to understand what this agreement contains and when it may be invalid.
What Does a Prenuptial Agreement Address?
Marrying couples often utilize prenuptial agreements to address a range of significant issues, such as:
Asset and Debt Division
Couples can specify how their assets and debts will be divided during a divorce, offering a clear and agreed-upon framework for distributing financial responsibilities.
Property Management and Control
Prenuptial agreements empower spouses to outline their ability to manage, sell, buy, or control property during their marriage. This includes specifying the decision-making authority over shared assets.
Alimony Considerations
The agreement may establish whether one spouse will be obligated to pay alimony to the other following a separation or divorce. This encompasses details such as the amount and duration of alimony payments, providing financial clarity for both parties.
Retirement Account Division
Couples may decide how to handle their retirement accounts, whether to keep them separate or agree on a method for dividing these assets in the event of a divorce.
Life Insurance Policy Proceeds
Prenuptial agreements may address the distribution of proceeds from any life insurance policies, ensuring that both spouses clearly understand how these financial benefits will be allocated.
Wills and Testamentary Intentions
Marrying couples may use the agreement to determine whether they should write wills to carry out the terms of the prenuptial agreement. This provides a holistic approach to estate planning, aligning the distribution of assets with the stipulations of the agreement.
If you have an existing prenuptial agreement and are still determining whether it is valid, our family law attorneys in Maryland can help.
What Would Make a Prenuptial Agreement Invalid?
Understanding what could invalidate a prenup is crucial for protecting your rights and assets. Some of the most common circumstances could invalidate a prenuptial agreement.
The Agreement was Made with Coercion or Fraud
When it comes to prenuptial agreements, transparency and fairness are key. If one party is manipulated or pressured into signing a prenup against his/her will, it may be deemed invalid due to coercion. This includes instances where one partner withholds essential information or misleads the other about the terms of the agreement.
Fraudulent behavior may also render a prenup null and void. If either party provides false information or conceals assets when drafting the agreement, it undermines the document’s integrity. Both parties should enter a prenuptial agreement with open communication and honesty to avoid fraud claims later.
Not Having Independent Counsel
When entering a prenuptial agreement, each party should seek advice from his/her independent legal counsel. This is crucial to ensure that both individuals fully understand the terms of the agreement and are not being taken advantage of.
Having separate family law attorneys in Maryland helps prevent conflicts of interest or bias that may arise if only one attorney represents both parties. Each person’s interests must be protected, and having independent legal counsel may help achieve this goal.
Without proper legal guidance, there is a risk that one party may unknowingly agree to terms that are not in his/her best interest. Lack of independent legal counsel may render a prenup invalid if it is later challenged in court.
Agreement Contains Invalid or Improper Provisions
Ensuring that all provisions are proper and valid when drafting a prenuptial agreement is crucial. Any incorrect or invalid clauses may render the entire agreement void. Common mistakes include vague language, undisclosed assets, or unrealistic demands. It is essential to be transparent about your financial situation and seek legal advice to create a fair and enforceable document.
Invalid provisions may also arise if they violate state laws or public policy. For example, agreements that waive child support obligations or incentivize divorce may be deemed unenforceable by the court.
The Agreement is Grossly Unfair
When creating a prenuptial agreement, ensuring that the provisions included are fair and reasonable for both parties involved is essential. A provision deemed grossly unfair or heavily favors one party over the other may invalidate the entire agreement.
For example, if a prenup disproportionately benefits one spouse by leaving the other with minimal assets or support in case of divorce, it may be seen as unjust. Courts may view such provisions as unconscionable and against public policy.
If you question the validity of your prenuptial agreement, you should contact a Maryland prenuptial agreement attorney immediately. An attorney can help you understand your rights and fight to defend them.
Call Our Family Law Attorneys in Maryland
At Brodsky Renehan Pearlstein & Bouquet, we understand that divorce can be emotionally and financially overwhelming. This is especially true when questions surrounding the validity of a prenuptial agreement arise. For this reason, we are dedicated to standing by your side and providing exceptional advice and representation to help you through this challenging time.
Our Maryland prenuptial agreement attorney strives to make the process as smooth as possible for you. Let us help you navigate the legal process to ensure your rights are protected. Contact us today for a consultation. We are here to support you every step of the way.
