We have discussed on previous occasions the importance of ensuring the validity of a prenuptial agreement in Texas. Prenuptial agreements are contracts that are signed by soon-to-be spouses prior to the exchange of “I do.” There are a variety of manners in which these agreements can be extremely valuable for marrying couples — particularly in instances of remarriage, or where one spouse has a significant amount of assets. Couples can draft an agreement of this nature with the assistance of an attorney well versed in matters pertaining to family law.
It is infrequent that courts will deem a prenuptial agreement to be invalid. That being said, one of the most obvious ways to mitigate the risk of a prenuptial agreement being found invalid is to ensure that the drafting and signing of the agreement is properly conducted with legal advice.
A prenuptial agreement is a legal contract, so an error in the drafting or signing could be detrimental. Steven Spielberg thought he was protecting his wealth when he asked his wife to sign a prenuptial agreement. The couple reportedly drafted the terms on a napkin. The court ruled this invalid when Spielberg’s wife contested the agreement at the time of their divorce. Accordingly, after four years of marriage, she walked away with a reported $100 million.
It is in the best interest of both sides to retain an experienced family law attorney when drafting and signing an agreement like this. Failing to do so can mean devastating financial consequences on either side. An attorney can ensure that no terms are unconscionable, unfair or coerced. Signing an agreement with legal consultation will make it less likely for the agreement to be ruled invalid.
Source: Forbes, “Five Reasons Your Prenup Might Be Invalid,” Jeff Landers, April 2, 2013