pre-nuptial agreement or which is commonly referred to as binding financial agreement
a case to declare their pre-nuptial agreement wherein $3.25 million was given to a younger wife, was filed by the husband on the ground that he was manipulated in signing it when his wife lured him to make love with her.
He alleged that their marriage was good only for 2 years and that the quantity of their sex life activity declined after their marriage. He even believed that his younger wife did not really love and neither did she want to have kids with him.
In his testimony, he belittled his wife’s work which is lap dancer. He alleged that when they were discussing marriage, he was so “emotionally and psychologically” attached to her.
The Court however, declared valid and binding the $3.25 million pre nuptial agreement and found the testimony of the wife believable when she testified that she loved her husband and sex did not change after their marriage. The Court found that the husband failed to prove that there was manipulation and coercion by the wife in making him sign the $3.25 million Pre nuptial Agreement.
Pre-nuptial agreement or which is commonly referred to as Binding Financial Agreement is contemplated by couples planning to live together or before marrying each other as a measure to protect their assets especially if they have children from their previous marriages whose inheritance they wanted to protect. It is also viewed as the easiest way to divide their properties when separation sets in.
But couples must understand that Binding Financial Agreement is not always binding or will hold water for the parties. There are cases wherein Court may declare it as not binding, unlike in this case. The situation surrounding the signing of the agreement is considered and appreciated especially when one of the parties was coerced in signing the same, or there was an element of duress or treachery or manipulation. Like for example the case of a pregnant woman who will not be offered marriage if she will refuse to sign the same, or when he was intoxicated or demented. If this is the case, the Court may declare the Binding Financial Agreement as invalid and not binding between the parties.
It is strongly advised that couples must seek legal assistance when they draft and execute their Financial Agreement to make it a binding one between them. This is also what the Family law provision is telling about.
Disclaimer : This article provides basic information only and is not a substitute for a professional or legal advice. It is prudent to obtain legal advice from a family lawyer.