Like any other contract, a premarital or prenuptial agreement must fulfill several legal requirements to be valid. If a prenup is unconscionable or contains unreasonable terms, it could be challenged in court in the event of a divorce. Similarly, any fraud or failure to disclose important information when signing a premarital agreement could lead to problems down the line.
To learn the requirements for prenuptial agreements in Chattanooga, reach out to the legal team at Yates & Wheland. Our experienced lawyers could help draft these types of documents and advise you on the legal implications of signing.
The two main requirements for a valid prenuptial agreement are full disclosure and informed consent. Both parties should be fully informed about the agreement, and there should be no dishonesty or fraud involved in the contract. To fulfill these elements, it is best for each party to have their own attorney and to have plenty of time to consider the prenuptial agreement before signing.
There are several reasons why a prenuptial agreement could be invalidated. If fraud was involved in getting one fiancé to sign the contract, the agreement may be challenged in court. If the contract is so unconscionable that no reasonable person would agree to it, it could also be invalidated or challenged. Duress is another potential reason for invalidating a prenuptial agreement, although it is hard to prove. A skilled lawyer at our firm could further advise on the requirements for a prenuptial agreement to avoid invalidation down the line.
Prenups are often challenged in divorces and probate cases, and the court may or may not alter the terms of a premarital agreements depending on the facts of the case. The court will look at various factors to decide whether the agreement was fair at the time of signing. If it determines that the prenuptial agreement was fair, the court will not change it.
However, there are rare cases where the court may change the terms of a prenuptial agreement based on new circumstances. For instance, if a prenup states that there will be no alimony and then a spouse becomes disabled or extremely ill, the courts could potentially change the terms of the premarital agreement.
Most contracts have a provision stating that the agreement may be changed at any time if it is executed with the same formality as the original contract. If a prenuptial contains this provision, a spouse can work with an experienced lawyer at any time during their marriage to execute a postnuptial agreement that better protects their interests. It is always best to consult a knowledgeable attorney at our Chattanooga office before signing a prenuptial or postnuptial contract to fully understand the elements of the agreement.
If you are considering a premarital agreement, or if you have been given one to sign, meet with an experienced lawyer. There are many requirements for prenuptial agreements in Chattanooga, and an attorney can help ensure that the contract upholds your interests while remaining legally valid. Reach out to the team at Yates & Wheland today to discuss your situation with a skilled member of our team.