Prenups aren’t just for high net worth couples. More and more people are realizing that prenups are for everyone. After all, the current national divorce rate is sitting at 38%. That’s less than half, but the odds of your marriage ending in divorce are still good.
Besides, all marriages end eventually. Some just end in death, and a prenup can help protect your spouse in the event of your death, too. It’s probably best to treat it like a financial planning instrument, and to treat it as routine.
Not all prenups hold up in court, and not all of them do a good job of protecting you. Our experienced family lawyers can help you craft the right prenup for your unique circumstances.
What makes a prenup invalid?
A prenup can be invalid for a number of reasons.
First, it’s invalid if both parties didn’t sign the prenup with the guidance of a lawyer. Both members of the couple will need their own lawyer to help them negotiate, craft, and double check the agreement.
It’s also invalid if it’s signed under false pretenses. For example, if one spouse hid assets from the other prior to signing then the whole agreement would be null and void.
Coercion is another reason why the prenup would be invalid. If one party pressured the other into signing then the judge will throw it out. Pressure can include social pressure, like trying to make a member of the couple sign the prenup the night before the wedding. A proper prenup usually gets signed six to nine months before the wedding day.
The final thing that can make a prenup invalid is that it contains clauses outside the scope of what a prenup can do. You can’t use a prenup to mandate that your spouse maintain a certain weight, for example.
Is a prenup void after 10 years?
Prenups don’t go void after a certain period of years. However, financial situations do change. It’s not a bad idea to review the prenup every ten years or so to make sure it still reflects your life and situation. Some lawyers even recommend you do it as often as five years.
Reviews can be written into the clean-up as an existing clause.
The court won’t necessary throw out a prenup that is older, but if it doesn’t address your life circumstances then it’s also unlikely to provide you with very much protection.
Should I be offended by a prenup?
You are better off treating the prenup as a routine part of getting married. If either of you are on your second marriage it’s an absolute must.
Think of it as a way to protect both yourself and your sweetheart from financial disaster. In fact, signing one is an act of love. It allows you to plan for your spouse’s future at a point where you’re both feeling loving towards one another.
Why Family Lawyer Winnipeg?
Our experienced family lawyers know how to craft prenups capable of protecting you and your interests.
For a consultation, call (204) 982-0803.