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<b><i>Practice Tip: </i></b>A Primer on Pre-nups
The holidays are over and, in the world of family law, that can mean an influx of clients looking for an attorney to prepare or review a premarital agreement in advance of an upcoming June wedding. Drafting or reviewing premarital agreements can, however, be “risky business.”
For starters, your client usually has very little idea what s/he is looking for, other than that s/he typically wants to protect his or her premarital, inherited or gifted assets. S/he has a vague understanding from friends, family members or other lawyers that the law generally exempts such assets from equitable distribution, but has no idea what other protections a prenuptial agreement may afford to both him or her and the prospective spouse.
Next, since the validity or enforceability of a premarital agreement will likely only come into play upon the dissolution of the marriage, it can be years, if not decades (depending on the agreement's operative language, which may contain a so-called “sunset” provision that terminates the agreement during the marriage), before this becomes an issue. Only then does the clock start ticking for a client who may be looking to point his finger at you, as his lawyer, for what went wrong.
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