For many people in Atlanta, getting a divorce is a time of complete uncertainty. All that you know is that when you are done, you will no longer be married to your spouse, but other than that there is no real way to know who will get the house, who will have primary custody of the children, whether alimony will be awarded, what amount of child support shall be paid, and many other aspects of divorce that must be settled. It is not always the case, however, that someone will be completely unaware of what divorce will bring, especially if he or she has a prenuptial agreement.

Those people who are bringing a certain amount of wealth, property or a business into a marriage, may wish to work with a family law attorney to craft a prenup. A prenup allows individuals who are about to get married the opportunity to determine what property will become marital and what will be left as the individuals’. A prenuptial agreement, however, is nothing more than a contract, which means that they are not ironclad and can be thrown out in certain situations.

One of the biggest reasons why a prenup might be set aside is in the case of fraud. When a couple creates an agreement, it is expected that all assets and debts are truthfully shared. If someone fails to share all of his or her assets or undervalues them, he or she has used fraud to get his or her future spouse to sign the prenup, and it would be wrong to enforce it.

Another big thing to look out for is a prenuptial agreement that is too lopsided. The agreement does give individuals the ability to protect their respective assets from becoming marital property, but when an agreement gives all the benefits to one party and all the responsibilities to the other, it may be lopsided. One common example of a lopsided prenup that has traditionally been thrown out is one that precludes a custodial parent from seeking child support.

Ultimately, prenups can be an important family law tool, but they must also be fair and respect both parties.

Source: Forbes, “Five Reasons Your Prenup Might Be Invalid,” Jeff Landers, April 2, 2013

If you would like to learn more about the work we have done on behalf of divorcing high-asset spouses, please visit our website.