There are specific requirements for a prenuptial agreement to be valid. Couples who are considering a prenuptial agreement should, of course, not only understand the variety of benefits a prenuptial agreement provide but also what the requirements are for a prenuptial agreement to be valid. Prenuptial agreements can be used to protect assets, including a family business, and clarify financial expectations for the couple, however, if it is not properly executed, it may not be valid.
A valid prenuptial agreement requires that both parties read and sign the prenuptial agreement free from any coercion or pressure. To ensure there is not any coercion or pressure, the prenuptial agreement must be signed by both soon-to-be spouses prior to the wedding with enough time for the soon-to-be spouses to each read and review the prenuptial agreement and understand what they are signing. In addition, the prenuptial agreement must be in writing and each of the soon-to-be spouses must have time to consider what it says and means.
The prenuptial agreement cannot be rushed, otherwise the couple risks it being later declared invalid. In addition, it cannot be based on incomplete information, false information or include invalid provisions such as provisions related to child support or illegal provisions. Each soon-to-be spouse must also have their own representation in the process and cannot share representation. The requirements for a prenuptial agreement to be valid help ensure the agreement is fairly entered into.
Prenuptial agreements help couples determine how they want property to be divided in the event they divorce and can save couples time and money down the road. As a result, it is important for couples to understand how to develop and execute a valid prenuptial agreement.
Source: Family.findlaw.com, "Top 10 Reasons a Premarital Agreement May be Invalid," Accessed Sept. 6, 2017