A prenuptial agreement, commonly referred to as a prenup, is a contract a couple enters into prior to marriage that contains provisions for division of property, spousal support, forfeiture of assets and other conditions as well should the couple divorce.
One New York woman, Elizabeth Petrakis, signed a prenup days before marrying millionaire Peter Petrakis. Elizabeth claims her soon-to-be husband promised the premarital contract would be torn up as soon as children were born to the couple.
Unfortunately for Elizabeth, her husband did not honor his promise. Three children later, twin boys and a daughter, the prenup is still intact. For the past seven years, Elizabeth has been arguing with her husband to have the prenup torn up, which he refused to do.
Last month, her prenup was voided by a Brooklyn appellate court, which ruled that Peter misled Elizabeth and therefore ruled in favor of Elizabeth on the grounds of “fraud in the inducement.”
Elizabeth’s lawyer, after the court’s ruling, stated he was “unaware of a vacated prenup in the state of New York on these or similar grounds.”
In the State of Florida, a prenup or premarital agreement, is enforceable unless it can be proved that:
- The party did not execute the agreement voluntarily
- The agreement was the product of fraud, duress, coercion, or overreaching
- The agreement was unconscionable when it was executed
A prenuptial agreement offers a couple the opportunity to be open and frank about finances, assets and other property they bring into a marriage. A prenuptial agreement does not increase the likelihood of divorce, but does make things easier if the marriage does not work out. An experienced Florida prenuptial attorney can can explain the advantages of entering into a prenuptial agreement, and can also assist you in outlining the provisions of the contract as well.
Original story found here.