The prenup primer, Part 3
It is easy to think that prenuptial agreements are solid as a rock once they are signed. Prenups have a reputation of being impenetrable to a legal challenge, but in reality that isn’t the case at all. Just like in our last post where we talked about things that actually can’t be included in your prenup (even though some people think the prenup is like a blank canvas where anything goes), prenups can actually be successfully challenged if the document is not compliant or if nefarious circumstances are involved.
So what are some of these circumstances that can cause a soon-to-be-former spouse to successfully challenge a prenup? Here are a few:
First of all, your prenup needs to have “scope,” or in legal terms, the document must not be “unconscionable.” If your prenup is determined to be unconscionable, what that means is that the provisions in the prenup are so favorable to one spouse that the prenup can’t be allowed to proceed as is.
Another big factor is time and consideration. Both spouses need enough time to fully consider the document. They can’t be rushed or pressured on wedding day to sign a document that they don’t fully understand.
The information contained within the prenup must also be accurate and valid. If false information was provided or if fraudulent circumstances are involved with the prenup, then the document could be tossed out by a judge.
Also, make sure all your provision are valid and proper.
Next week, we will close out our series on prenups with a discussion on whether a prenup is right for you.