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CALLPrenups are contractual agreements between two people that are created prior to marriage and that go into effect upon marriage. When the prenup aligns with state laws, it is legally binding and will guide the financial terms it addresses in the event of divorce. While a prenuptial agreement can be modified during a marriage, both spouses must be in agreement on the matter.
Explore your best options by discussing your unique situation with one of our experienced Manassas, VA, prenuptial agreement attorneys at Bristle Schulze today.
Primary Issues that Can Invalidate a Prenuptial Agreement
There are three primary factors that can invalidate a prenuptial agreement in Virginia. In cases in which the prenup isn’t legally valid to begin with, a modification isn’t necessary.
For a marital agreement to align with Virginia’s laws, each spouse must have provided the other with a complete and accurate accounting of their finances. While the parties can sign a voluntary waiver of disclosure regarding relevant financial information, it won’t necessarily stop the contract from being invalidated if the terms are unfair.
In addition, neither party can exert undue pressure on the other in order to coerce them into signing the contract. Finally, none of the terms included in the prenup can be what the state calls unconscionable, which means a term that is blatantly unfair or lopsided.
Modifying or Revoking a Prenup
There is only one means of modifying an existing prenuptial agreement that is legally binding. This can be accomplished when both spouses sign off on an agreement that defines the changes being made.
A prenup can also be revoked if both spouses sign a written declaration revoking it. If, however, the modifications made are considered unconscionable, or if either spouse agreed to them as a matter of coercion or undue pressure, they can invalidate them.
Common Reasons for Modifying a Prenuptial Agreement
There are several common reasons for modifying prenuptial agreements during a marriage, and most fall into categories like the following:
- The financial status of one or both spouses has changed significantly.
- The couple has started a family, which supports a shift in financial priorities.
- The couple has acquired considerable joint assets, which may include a family home.
When a married couple’s financial landscape or outlook shifts, it can lead to a mutual decision to modify an existing prenup. These marital agreements are considered living documents, rather than static events, which means they can evolve along with evolving marital circumstances. This helps to ensure that your prenuptial agreement will continue to align with your married life and ongoing goals.
Our Experienced Manassas Prenuptial Agreement Lawyers Welcome the Opportunity to Help
Our focused Manassas prenuptial agreement attorneys at Bristle Schulze have a solid track record for helping clients as they implement and maintain prenups that afford them the peace of mind they’re looking for. Your financial future is important, and we can help you safeguard it. Learn more by contacting us online or giving our firm a call at 703-454-0701 today.