A prenuptial agreement, or prenup, is a legal contract couples enter before marriage. The purpose of a prenup is to provide for how a couple’s financial affairs will be managed during the marriage and how their assets will be divided in the event of a divorce. One of the requirements for a prenup to be valid in New York is that its terms be clear and unambiguous. A recent state appeals court decision sheds some needed light on how that rule works when a prenup’s validity is challenged.
In the case of Vella v. Vella, the court held that finding ambiguity in a prenuptial agreement is a matter of determining the parties’ intent, which must be based solely on the document’s language, not on external evidence. The prenup in this case included an escalator clause requiring the husband to pay an additional amount of money to the wife if the marriage were dissolved subsequent to its 10th anniversary. The clause specified that the payment would be due within 30 days of entry of a divorce judgment. The husband argued that the clause was ambiguous because dissolution could have occurred earlier than the 10-year mark. But the court held that the agreement on its face shows an intention to use the date of entry of the divorce judgment as the date of measurement.
The Vella decision highlights the importance of retaining skilled legal counsel for drafting a prenup. While these agreements can be practical tools for protecting one’s assets, they must be prepared in such a way that they are legally binding and enforceable. An experienced attorney will make sure that the prenup is clear and unambiguous and conforms to state law requirements.
A prenuptial agreement can cover multiple issues, such as property division, spousal support, and inheritance rights. It can also include provisions for how the couple will handle financial matters during their marriage, providing clarity and security for both parties. Couples with exceptional wealth, such as business owners or those with complex assets, can especially benefit, since such property can be difficult to appraise and divide in a divorce. In addition, a prenup can protect both parties by outlining spousal support obligations and preventing one spouse from being saddled with the other’s debts. All of this depends on a prenup being well drafted so that it is free from ambiguity and other grounds of invalidity.
The Bombardo Law Office, P.C. in Syracuse assists clients in Central New York in creating personalized prenuptial agreements. Call 1-315-488-5544 or contact us online to schedule your free consultation.
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