A future husband wanted to be sure that if his marriage didn't work out, he could keep his treasure
ice-cream collection safely stored away in a freezer. A woman insisted on verifying who would walk
hedog. One man wanted the right to get a divorce if his bride-to-be gained more than 15 pounds once
shebecame his wife.
These are some of the crazier clauses of prenuptial agreements. But make no mistake about it, whatm
st of them are about is money - and how financial assets will be divided up if a couple divorces. A
ddivorce with its accompanying money problems is common in the United States.
Prenuptial agreements - or "prenups" - are designed to address these problems as they arise.
Prenups are negotiated by lawyers for the prospective spouses, and signed before a minister bindsth
m in marriage. They have been gaining in acceptance in the United States since the early 1980s,when
more states began passing laws that affected the division of financial assets in a divorce. The law
are based either on "community property" (split evenly) or on "reasonable distribution" (whatever a
udge thinks is "fair").
The prenups of the famous make the headlines: lawyers for Jacqueline Kennedy Onassis contestedthe p
enuptial agreement between her and Aristotle Onassis after his death, reportedly winning $26million
in an out-of-court settlement.
But prenuptial agreements are also for lesser known, although wealthy folks. "It's because divorceh
s such great economic consequences, and successive marriages have become so common," said afamily l
w lawyer.
A typical candidate for a prenuptial agreement is a man who has accumulated considerable wealth,has
already been stung once, and wants to reduce his exposure to future problems. "They want tomake the
r own arrangements, rather than let a court decide," said the president of the New Yorkchapter of t
e American Academy of Marriage Lawyers.
Protecting children from a previous marriage is a strong reason for prenuptial contracts. "Someonem
y have an estate of $1 billion and he may not want a second spouse to get a payment of half a billi
n.
He may want more for his children," said a lawyer. The effort to shield assets to be passed on toch
ldren and grandchildren is making prenups more common among retired people in their 60s and70s who
re remarrying after a spouse has died.
Another situation that calls for premarital agreements occurs when a potential spouse has, or is in
ine for, great inherited wealth or a family business, especially if the future partner has little o
nothingat all.
But even when both parties have signed such an agreement, it can be impossible to enforce it incour
if proper guidelines have not been followed. A lawyer is required to write the document, formistak
s in language - even a misplaced preposition - can be disastrous. But never, ever, warnmarriage law
consultants, should you use the same lawyer as your future spouse does.
Another problem is a prenuptial agreement signed under pressure. To avoid this, some lawyers willno
draw up an agreement once a wedding date has been set. "I figure there's a sword hanging overtheir
head, and that's pressure," they said. Such lawyers counsel their clients never to send outwedding
nvitations until both signatures are on an agreement.
But not everyone takes this advice. A classic example is cited by lawyers: "An agreement is stuckun
er somebody's nose on the day of the wedding - and it's usually a 'she' - and she signs, but doesn'
even read it." Another lawyer recalled one awkward episode where the two sides were still editing t
econtract, arguing over what to keep and delete, as 150 wedding guests were arriving for the weddin
.
When an agreement could not be forged, the wedding was canceled.
A dispute can also break out over prenuptial agreements if a couple decides to divorce while living
broad, or when they have different passports. A lawyer in a London law firm that often handlesdivor
es for British-American couples noted that in Britain, prenuptial agreements were "just aboutignore
" by the courts because English law says that circumstances of a marriage aren't static, andtherefo
e a judge should decide how financial assets will be divided.
That can lead to "court-shopping", since what matters is the law of the country where the couple is
etting divorced. He gave the following example: "A wealthy Mr. Ed Smith gets married to Mrs.Smith,a
d they enter into a New York prenuptial contract. They live in England, and then decide to getdivor
ed. English lawyers will say to Mrs. Smith, 'No, that contract is not valid,' while Mr.Smith willwa
t it to be an American case. The issue of where it will be held can greatly multiply the amount oft
me required to reach a settlement."Romantic love has no bearing on this process, say these lawyers,
who consider prenups to bebusiness agreements. Their justification: some 50 percent of all marriage
in the United States end upon the trash heap.
Moreover, the discussions for a prenuptial agreement, which involve laying bare all one's finances,
ometimes save a couple from a terrible marriage. "It sheds light on issues which could later widen
ndresult in divorce," said a lawyer.
But there is still hope. "Many people sign an agreement, put it in a drawer and never look at itaga
n," the lawyer added.