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Careful with that prenup, you might break it!

As many people going through high-asset divorce in Georgia know, prenuptial agreements are an important way to protect the wealth a spouse had going into a marriage. One lawyer in Atlanta has reported that these agreements are 10 times more common now than they were 20 years ago, especially among Georgia's high earners.

Reasons for having a prenup vary, though it is primarily used when one spouse seeks to protect their premarital assets. Whatever the reason for the prenup, they are not always iron-clad. Laws vary by state, so where you live makes a difference, but the most common way a Georgia prenup might be broken is a mistake in the paperwork. If a form isn't properly completed, the prenup may be nullified.

Other issues that can interfere with a prenup include being dishonest about assets. A court may overturn a prenup if one spouse claimed to be worth far less than he or she actually is. Full disclosure is necessary and failing to comply may mean throwing out the whole agreement.

In some cases, agreements have contained language that was unenforceable or was so shocking that judges have thrown them out. In one, a father refused to pay child support and in another a wife only had a few days to move out of the marital home after a divorce. Judges in both of these situations found that the agreements demanded too much of spouses to be enforceable.

Many people in Marietta may think that prenuptial agreements are always enforceable and never breakable, but, done incorrectly, they may be quickly thrown out in family court. This is one reason why using an experienced family law attorney is an important way to ensure prenups are done right.

Source: Reuters, "Breaking up is hard to do, breaking prenup is harder," Geoff Williams, Oct. 5, 2012

Discover more about how important it can be to have an attorney in a high-asset divorce or when finalizing a prenuptial agreement by visiting our website.

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William C. Gentry, Attorney at Law

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William C. Gentry, Attorney at Law
506 Roswell Street SE, Suite 240
Marietta, GA 30060

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