"It gets very, very stressful," says a financial consultant in talking about written understandings and marital contracts that she advises a number of her clients to execute.
The reason? A mobile society, with property sometimes being held in multiple states and couples entering into marriage with separate assets. Additionally, advisers point to the variability attaching to how courts in different states interpret prenuptial agreements and postmarital contracts.
That uncertainty underscores the need for couples that are considering entering into such agreements to consult with an attorney with proven and in-depth experience negotiating and executing pre- and postmarital contracts.
The fashioning of such agreements can indeed be a bit tricky -- especially the crafting of language and the understandings set forth in such a way that they ensure enforceability later -- for lawyers whose practice does not centrally feature substantial involvement in premarital and postmarital contract drafting and execution.
The variability -- owing to states having diverse rules on drafting and how to handle challenges -- is what has induced a national group that sets best legal practices to enter the foray on more than one occasion. The Uniform Law Commission (ULC), a coalition of judges, lawyers and law makers, first proposed uniform rules and language for prenups in 1983. Many states signed on, but with adjustments made that catered to local practices.
Now the ULC has acted again, with the issuance of a blueprint draft that seeks to inject greater uniformity in such contracts across the country.
The bottom line for any person seeking to create and potentially enforce such an agreement is simple and straightforward: Consult with an attorney who you know has substantial experience in negotiating and crafting prenuptial and postnuptial agreements.
Source: "Financial Adviser, New prenuptial rules aim to get states on same page," Arden Dale, Aug. 15, 2012
- Our law firm routinely assists clients in the negotiation, drafting and enforcement of prenuptial and postnuptial agreements. For more information, please visit our Miami Prenuptial and Postnuptial Agreement page.