Prenuptial Agreements in NC
Charlotte Mecklenburg County Family Lawyer
Our Charlotte based lawyer is well versed on prenups and the issues and laws associated with drafting, negotiating, and enforcing the agreements. If you have any questions regarding the material on this page or if would like to discuss how Prism can help in your situation, call (704) 412-1442 today.
A prenuptial agreement (also known as a "premarital agreement," or more simply, a "prenup"), is a tool commonly used in North Carolina by engaged couples prior to their marriage. The purpose of a prenuptial agreement is to lay out the wishes of the parties as to the rights associated with and distribution of assets and property in the event of a divorce or the death of either party.
Often, the word "prenup" unfortunately conjures negative connotations. However, these documents can be very useful in not only providing future protections to the parties involved, but also as a means to settle potential disagreements on the front end of things while the parties are on good terms. Much of the headache and legal expense of ending a marriage comes as a result of parties who are on bad terms with each other trying to resolve contentious matters.
***NOTE: When drafting a prenuptial agreement, it is very important that the document complies with NC law regarding the actual content included, the surrounding circumstances and info exchanged between the parties, and the timing and manner in which the agreement is executed. Failure to consider these and other statutory requirements may result in the document being unenforceable in the future.
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Prenuptial Agreements, Content
Prenuptial agreements are powerful documents in that they can resolve many outstanding issues related to the assets and property of the parties involved. Per N.C.G.S § 52B‑4, the parties to a prenuptial agreement may contract with respect to:
- The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located;
- The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;
- The disposition of property upon separation, marital dissolution, death, or the occurrence or nonoccurrence of any other event;
- The modification or elimination of spousal support;
- The making of a will, trust, or other arrangement to carry out the provisions of the agreement;
- The ownership rights in and disposition of the death benefit from a life insurance policy;
- The choice of law governing the construction of the agreement; AND
- Any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal penalty.
Drafting a thorough and well thought out prenuptial agreement can save you and your fiancé a good deal of money, time, stress, and energy versus handling these matters down the road in a courtroom under heated circumstances. Further, by negotiating a prenuptial agreement, you have the power to control the terms of the agreement, rather than having to rely on a judge's ruling to determine the resolution of issues related to your assets and property.
To speak with a Charlotte family law attorney regarding prenuptial agreements, call (704) 412-1442 today.
Enforcing a Prenuptial Agreement
A valid premarital agreement is an enforceable contract between the parties involved. If one party refuses to comply with a provision as laid out in a prenup, the other party may have to pursue legal action in order to enforce the terms of the agreement.
A party seeking to enforce the terms of a prenuptial agreement must rely on the contract laws of North Carolina and the remedies available therein. These potential remedies include "specific performance," "breach of contract," and potential "monetary damages."
Regardless of the method used to enforce a prenup agreement, there are always defenses available to the allegedly non-complying party. To learn more about the enforcement of prenuptial agreements and other legal agreements in NC, as well as potential defenses available, visit Prism's page on enforcing contracts and court orders.
Invalidating a prenup
According to N.C.G.S. § 52B-7, a prenuptial agreement is not enforceable if the party against whom enforcement is sought proves that:
- That party did not execute the agreement voluntarily; OR
- The agreement was unconscionable when it was excuted and, before execution of the agreement, that party:
- Was not provided a fair and reasonable disclosure of the property or financial obligations of the other party;
- Did not voluntarily and expressly waive, in writing, any right to disclosure of the property or financail obligations of the other party beyond the disclosure povided; AND
- Did not have, or reasonably could not have had, an adequate knowledge of the property or financial obligations of the other party.
Whether or not a party executed an agreement voluntarily, as described in #1 above, is a complex analysis involving numerous factors, including the timing of when a prenup was presented in relation to the wedding date, whether the parties involved were represented by independent counsel in the negotiating and drafting of the agreement, the age and health of both parties, the degree to which either party was pressured by the other party to sign the agreement, the fairness of the terms of the agreement, whether or not either party misrepresented any information relating to the prenup, and the disclosure of financial information between the parties. Questions? Call (704) 412-1442 today.
Prism can help.
Our attorney is prepared to help with all aspects of prenup agreements, including:
- Drafting your prenuptial agreement.
- Negotiating your prenuptial agreement.
- Reviewing your prenuptial agreement.
- Enforcing your prenuptial agreement.
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Contact Info
PRISM FAMILY LAW FIRM
10130 Mallard Creek Rd., Suite 319
Charlotte, NC 28262(866) 779-2724 (fax)
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