- They ARE generally enforceable. There are a few conditions which make them more likely enforceable.
- Was there a full disclosure of assets and debts?
- Was each side represented by counsel?
- Is the agreement unconscionable?
- Was it signed by parties prior to marriage?
- What about change of circumstances from time signed to divorce? Under Kentucky law, the agreement has to be conscionable at the time of signing and at the time it is seeking to be enforced. For example, if both parties were working at the time of marriage and now 1 not working, probably still conscionable. However, if one party becomes disabled, the agreement may become unconscionable.
- Do I keep my premarital assets? Generally, yes.
- Can I accumulate non-marital assets during the marriage? You can, if it is included in the prenuptial agreement. Parties may elect to share assets acquired during marriage or may keep assets separated; all depends on the wording of the document.
- What about child custody and support?
- You may include custody provisions, but if there are extenuating circumstances custody can still be later contested. This is especially true if there are future abuse or neglect allegations which would have been unforeseen at the time of the signing.
- Child support is always reviewable and modifiable under Kentucky law. A prenuptial agreement may spell out a minimum presumed earning ability for parties so that there is a base line, but appellate decisions have made clear that child support cannot be permanently negotiated away by contract or even a final divorce agreement.
- Are alimony or spousal support/maintenance provisions enforceable?
- Is my business safe under a prenuptial agreement? Generally, yes. Assuming that you list as an assets and include that changes to business value are not considered marital property, then it is exempt from later division by a divorce court. Note: this is most often a basis for prenuptial agreements so that a family business does not become joint property through the process of marriage. Each party should carefully review and explain the concerns with their attorney.
If you have questions or concerns or need advice regarding a prenuptial agreement, you should consult with an attorney. For advice and representation in Northern Kentucky, contact Michael Bouldin at [email protected] or call 859-581-6453 (581-MIKE).