Prenuptial Agreements

Question:
I am planning to get married. What can a prenuptial agreement protect?

Answer:
The prenuptial agreement generally protects the spouse with the greatest wealth on termination of the marriage. Property, cash, assets and family businesses owned by either or both of the spouses are protected against a claim by the other spouse if the marriage ends. The agreement directs the distribution of property when the marriage ends, either by death or divorce, along with the amount of support payments a spouse is entitled to receive. By entering into the prenuptial agreement, the couple is removing the court from the determination of how a couple’s property will be divided in a divorce, or in an estate matter should one spouse die. Some prenuptial agreements expire after a period of time. For instance, after 10 years of marriage the agreement may expire and the spouse’s legal rights will be determined under the law of the state where they reside.

Courts routinely enforce prenuptial agreements if the parties executed the agreement voluntarily and knowingly. Just like any other contract, the agreement is presumed to be legally executed and valid unless proved otherwise. The agreement may be unfair and unreasonable as to one party, but it will be enforced unless fraud, duress or undue influence is shown.
Probate Proceedings and Administration.