The Values and Limitations of Prenups
The New York Times has published a debate about prenups, with several commentators recommending prenuptial agreements for those "who have sizeable wealth, own a business or are entering into a second marriage with significant personal assets." They suggests that a prenup and applicable laws can protect individuals financially if a marriage ends in divorce. However, other commentators suggested different solutions for protecting personal wealth and, as a recent case in New York demonstrates, prenups are not fail-safe. In March, it was reported that a New York Appellate Court invalidated a couple's prenup because of the husband's verbal promise to tear up the agreement after they had kids. The court found the wife was fraudulently induced into entering the agreement.
Cindy Pham is a third year law student at the University of Denver Sturm College of Law and contributes to IAALS Online. Please direct inquiries about this post to firstname.lastname@example.org.