There are numerous occasions and reasons why an individual may want to consider a prenuptial or premarital agreement. A prenuptial agreement allows an individual to clearly define his/her spousal support obligations and outline how marital property will be divided in a divorce or death, assuming that the premarital agreement is enforceable. Surprisingly, due to Kentucky’s definition of marital property, many individuals may not need a prenuptial agreement since the assets s/he has prior to the marriage may be protected as “non-marital” property already.
Our attorneys have drafted numerous prenuptial agreements and and also had the opportunity to litigate the enforcement of several prenuptial agreements. In general there are three requirements that must be present in order for a prenuptial agreement to be valid. Those three requirements are: 1) There must be a full disclosure of assets by both sides prior to the signing of the prenuptial agreement; 2) the Agreement cannot be unconscionable at the time it is signed; and 3) the Agreement cannot be unconscionable at the time of its enforcement.
However, there are certain areas in a prenuptial agreement which a Kentucky Court cannot be bound. Those areas include child custody, visitation, and child support. In addition the more sided and unfair a prenuptial agreement is, the easier it is to challenge its enforcement.
If you are interested in drafting a prenuptial agreement or require aggressive advocacy to fight an unfair prenuptial agreement, contact our attorneys.
Benefits of a Prenuptial Agreement
No one enters a marriage thinking it will end in divorce. Unfortunately, with the divorce rate hovering at around 50% nationally, preparing for a possible end to a marriage is a realistic, proactive measure. As the old adage states, “It is better to be safe, than sorry.”
A prenuptial agreement allows you and your future spouse to determine how you will handle property and asset division in the event of divorce. It can also provide provisions for alimony/spousal support. By determining these factors yourselves, you are much more likely to achieve a mutually satisfactory outcome than if matters are left in the hands of a Judge further down the road, sometimes after months or even years of contentious litigation.
Disputing Unfair Prenuptial Agreements
There are cases when prenuptial agreements need to be challenged as they are clearly unconscionable, signed under duress, and/or full disclosure was not provided at the time of signing. Attorney Louis P. Winner has had success at having prenuptial agreements declared unenforceable, which has also led to his ability to draft prenuptial agreements that can withstand future litigation to the extent possible under current Kentucky law.