Prenuptial agreements play a crucial role in high-asset divorces as they outline how assets will be divided if a marriage ends. It specifies which assets are separate property and which are marital. A prenup also outlines spousal support terms, potentially reducing conflicts.
Are there exceptions in a prenup agreement?
Prenuptial agreements in Indiana, like in many other states, have specific exceptions and conditions that can affect their enforceability. Here are some key exceptions and considerations:
- Complete Disclosure Requirement: Both parties must fully disclose their assets and debts before signing the agreement. If one party can prove that the other party did not provide complete financial disclosure, it can invalidate the prenup.
- Voluntary Agreement: Couples should enter the prenuptial agreement voluntarily. If one party can demonstrate that coercion was involved in signing the prenup, a court may not enforce it.
- Unconscionability: If the agreement seemed unconscionable at the time of enforcement, meaning it is extremely unfair to one party, a court might refuse to enforce it. This could occur if the terms are heavily one-sided or if circumstances have changed significantly since the signing of the agreement.
- Provisions Regarding Child Custody or Support: Prenuptial agreements cannot affect child custody or child support terms. The court determines these matters based on the child’s best interests at the time of the divorce.
Both parties must write and sign the agreement. If the prenup fails to meet these formal requirements, the court may consider it invalid.
Crafting a beneficial prenup agreement
Creating a prenuptial agreement requires careful consideration, and you may want to seek help from a legal professional. They can help identify potential issues and craft terms that protect both parties’ interests. A well-crafted prenup can be valuable in managing high-asset divorces, allowing both individuals to move forward confidently.