Even though you love your soon-to-be spouse, you might have concerns about his or her finances. This may be especially true if your future husband or wife has considerable debt. Indeed, if you are financially secure, the possibility of losing your wealth can be worrisome.
A prenuptial agreement might give you some peace of mind. According to reporting from Yahoo!, approximately 15% of marrying couples execute prenuptial agreements. Still, not all prenuptial agreements pass legal muster. To ensure yours does, you should understand when it is possible to void a prenup.
The timing of your agreement
As its name indicates, prenuptial agreements are marital contracts intending spouses enter into before they walk down the aisle. Consequently, if you and your partner never exchange vows, your prenuptial agreement is not likely to be enforceable.
The voluntariness of your actions
Adults are free to negotiate contracts about virtually anything. Nevertheless, for your prenuptial agreement to be good, both you and your soon-to-be husband or wife must voluntarily sign it. This means you each must do so without coercion, distress or force.
The truthfulness and completeness of your communications
When negotiating and drafting your prenuptial agreement, you and your future spouse should be forthcoming with all relevant information, such as assets and debts. If either of you is untruthful or provides incomplete details, your prenup might be unenforceable.
To guarantee your prenuptial agreement is legally valid, you also should be certain you follow the legal formalities marital contracts require. Ultimately, if you do so, you can protect yourself without worrying about having some court throw out the agreement.