From bank accounts and investments to business holdings, a prenuptial agreement can be an important financial tool for couples who want to ensure that certain assets remain separately owned after marriage.
Once associated mostly with extremely wealthy, more and more Americans are considering prenups as an insurance policy against a potentially high-conflict divorce with an uncertain financial outcome.
Unfortunately, in some cases, one spouse may try to create an unfair advantage for themselves. If a prenup does not meet certain conditions, the agreement may not hold up in court.
1. Improper attestation
In Georgia, a prenuptial agreement must be a written document that each future spouse signs voluntarily. Additionally, at least two witnesses must sign the agreement, including a notary public.
2. Failure to disclose assets
Each spouse must disclose all assets either in the prenup agreement itself or in an attachment. This includes both property and liabilities as well as all sources of income. Misrepresenting or hiding material facts about finances when entering a prenuptial contract may void the agreement in part or in whole.
3. Lack of legal representation
For a prenup to be enforceable, both spouses must have the time and the opportunity to consult with an attorney before signing if they wish to. The court may reject the terms of a prenup if one party was not able to properly review the agreement.
Even if none of the above apply, a prenuptial contract may also be invalid if the court deems that the agreement is substantially unfair to one party. Those considering contesting a prenup should know that the court may not enforce an agreement that contains unreasonable, excessively one-sided or unlawful provisions.