10 Things You Need to Know About Prenups

Singer Justin Bieber and Hailey Baldwin secretly were married last month, but as that was slightly shocking, the real bombshell was that there may not have been a prenuptial agreement between the love birds. Bieber’s worth is estimated at $265 million while Baldwin is worth $2 million. The imbalance of wealth between the couple could have severe potential complications down the road if the passion burns out.

Here are things every person should know about prenuptial agreements.

• They are private agreements between the parties and which state’s law to apply depends on where the marriage took place, where the parties live during the marriage and what law the agreement says to apply.
• Fairness is paramount – both parties must disclose all assets and each must have their own attorney.
• With fairness being so importance, many of the details depend on the unique facts and circumstances surrounding each couple, such as length of marriage.
• Again, full disclosure is required, and many states may look at potential inheritances.
• The idea of a prenup should be raised long before the marriage, not the week or night before.
• Often, separate or prenuptial assets will be off limits under a prenuptial agreement.
• Most prenups will allow each party to leave their separate property to whomever they want, while requiring some provisions for the surviving spouse.
• Alimony could be stipulated or waived in an agreement. If it is not mentioned, then either party could still raise it in the event of a divorce.
• A prenuptial agreement cannot provide for or limit child support or rights related to children. Courts and legislatures do not let couples bargain away the rights of their children.

See Christine Fletcher, 10 Things You Need to Know About Prenups, Forbes, September 18, 2018.

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.