Prenuptial Agreement

A prenuptial agreement may sound like an idea only millionaires and celebrities throw around, but they can and have been used by everyday people to secure their assets, like property or finances, in case of divorce.

While prenuptial agreements are legal in all U.S. states, each state has different requirements and laws regarding these agreements. Some commonalities all of these laws share include the necessity of having this agreement in writing, that the agreement be reached voluntarily, and that it be acknowledged before a person known as a notary public. Also noteworthy is the fact that agreements regarding children of the marriage cannot be made in a prenup. Essentially, the court system will decide the outcome of custody if parents cannot agree.

In practice, prenuptial agreements are frowned upon by both society and many judges. Judges can dismiss a prenup if they find it unconscionable, the definition of which is somewhat vague, though it is often applied to absurd requirements in a prenup, such as forcing either party to "do the dishes." A prenuptial agreement can also be waved if not all finances are declared by either party before the agreement. Thus, prenuptial agreements can be a waste of time for many couples. They are also criticized for their cynicism and paranoia in regards to marriage, and disdained for their lack of faith. The alternative to having a prenuptial agreement in the event of a nasty divorce is, of course, finding a good lawyer. Either prospect is generally distasteful, but some might consider it a necessary evil of modern times.