New Prenuptial Rules

Currently, the states have different regulations and laws with regards to prenuptial agreements. Now, it looks like a group is hoping to create a uniform standard for prenuptial agreements. The group, called the Uniform Law Commission, is comprised of all types of legal professionals. 

The group previously drafted rules on prenuptial agreements in 1983, however, only about half of the states accepted the first draft, and many of states altered the rules to suit their needs. The problem is that some states have higher and more stringent standards on those who want to enforce the agreement, which places some parties in multi-state prenuptial agreements at a disadvantage. The problem is that “an agreement that favors one party too strongly is less likely to stand up in court under challenge, partly because it may look as though the less-favored person was somehow pressured into signing.” Besides providing a more uniform and fair standard, a uniform system of laws on prenuptial agreements would also make the process of advising clients much easier for lawyers.

See Arden Dale, New Prenuptial Rules Aim to Get States on Same Page, Financial Adviser, Aug. 15, 2012.