Many couples feel more comfortable entering marriage with their finances separate, protecting each other from debts, keeping property in the family, and defining who gets what if the marriage ends in divorce. But some judges fear that prenuptial agreements can even encourage divorce if the financial incentive is great. This was not the case for Elizabeth Cioffi-Petrakis, who would have lost everything in her prenuptial case.
Cioffi-Petrakis, was able to overturn her prenuptial agreement, an unprecedented case, according to the New York Post. She testified that her husband essentially forced her into signing a prenup, promising to cancel it after the couple had children. Despite those promises, when the marriage ended in divorce, the prenup was still active. Based on the success of her case, we are curious if we will see more prenuptial agreements voided in the coming years.
Why We’re Asking:
With the universal understanding that about half of marriages end in divorce, we want to learn more about prenuptial agreements. Are such agreements an obvious choice to protect assets? Or do they encourage marriages to dissolve?
How common are prenuptial agreements in 2013?
Are they primarily designed for wealthier marriages?
What are some of the advantages to prenuptial agreements beyond protecting finances?
Do prenuptial agreements have the potential to encourage divorce? Do they provide a financial incentive for divorce?
Are agreements more common in second or third marriages? What about couples with children?
Will Cioffi-Petrakis’ case mark a trend in prenuptial agreements? Will we see more cases turned over?
We look forward to learning more about about prenuptial agreements. Check back next week to see what our family law professionals have to say!
Legal Network members, post your answers in the comment field below!