Asking your fiancé to sign a prenuptial agreement can lead to a lot of stress and fighting, and, in some cases, even cause the couple to break up prior to their wedding day. Even if a prenuptial agreement is executed, and there is a divorce, there is often fighting involving the other spouse's efforts to have the signed agreement invalidated on various grounds during a divorce proceeding.
One of the first things to understand about prenuptial agreements is that they are generally only for people who already have a significant amount of money, and not for people hoping they will one day become rich. The reason for this is because for a prenuptial agreement to be valid, there must be full disclosure of all parties assets and relative wealth, and a legally acceptable exchange of mutual consideration (a bargained for exchange) prior to executing the agreement. This normally involves one party's attorney preparing a summary of his or her client's net worth and disclosing this information to the other party. There must be an alternative support agreement to take the place of the standard property division and spousal support (alimony) system used by a divorce judge had there been no prenuptial agreement.
It is also necessary for the other party to have an opportunity to speak with his or her own attorney and be advised on the full scope of consequences there may be in signing a prenuptial agreement. Even then, the other person may try to have the agreement declared null-and-void during a divorce hearing, based upon it creating a hardship, being unconscionably unfair, or alleging fraudulent inducement during execution of the agreement.
According to a recent report from TMZ, celebrity chef Bobby Flay, who is estimated to be worth around $20 million, is attempting to enforce his prenuptial agreement, which would provide his current spouse with only $5,000 a month in spousal support. His wife, Stephanie March, an actress best known for her starring role on Law and Order, is claiming it would create a significant hardship to enforce this agreement.
She has reportedly suffered three serious infections and a series of other medical issues, and it is because of these health issues she is claiming she cannot survive on $5,000 a month. Court records indicate Flay is challenging her assertions and has stated all of her medical issues and infections were a result of complications with her choice to undergo elective breast enhancement surgery, and it was due to her “vanity” she suffered the medical problems.
As our Birmingham divorce attorneys can explain, if you are considering proposing a prenuptial agreement to your fiancé, you should first seek a consultation with an experienced family attorney before taking any action. There are a lot of issues and problems that can occur before an agreement is executed and, if parties end up getting divorced, during the martial dissolution proceedings.
It should be noted, March has opposed Flay's accusations and has stated it was his alleged infidelity that affected her health and caused emotional distress.
Bobby Flay Low Divorce Blow Over Breasts, May 22, 2015, TMZ