The sunset clause, on the other hand, can give the spouse with less wealth the peace of mind that comes from the fact that their spouse wants to compromise on this issue and is not on the fence in terms of marriage. While this may be true, sunset clauses can be dangerous. Finally, if you set your sunset clause at 10 years and divorce after 11 years, you could lose a lot because of that extra year of marriage. Plus, there`s no legal reason to get rid of your prenup anyway, even if your marriage works. You don`t have to use it when you don`t need it, but it can be helpful to leave it in books in case you do. In other words, a sunset clause in a prenup is usually a clause that describes when the prenuptial agreement is terminated – for example, after X years. A basic sunset clause is a provision of the agreement itself that specifies a time when the prenup is no longer valid. There are usually two types of sunset clauses. One contains language that states that the prenup is invalid if the marriage lasts a certain number of years. The second type gradually eliminated the prenup over a period of time. In our case, Elizabeth and Joe thought a lot about the matter and eventually decided that the sunset clause would remain an integral part of their postnup. With a marriage contract, the wealthiest party has a legal contract that, in such a case, protects a large part of its assets.
However, the prenup cannot be unscrupulous – or extremely unfair – to the less wealthy spouse. A prenaptial agreement or prenutial agreement is created when you and your potential spouse enter into a contract that covers the legal and financial issues that may arise in the event of a subsequent divorce. It can also cover what happens when a party dies. A typical prenutial agreement covers everything from investments and income to alimony payments, the individual partner`s 401K accounts, the family home, and other assets. While wealth and income receive the most attention, other elements can also be included in a prenup; Everything from the maintenance of the couple`s pets to maintaining life insurance and sunset provisions can be included in this contract. If you are considering a marriage and are interested in a prenup, whether or not you opt for a sunset clause, contact our prenup Infinity Law Group lawyers for a free telephone consultation and make an appointment. If he doesn`t, I have a prenoptial agreement, NOT a sunset clause! The laws of the states applying the prenup conditions vary. There are very few cases in the country that deal with the issuance of an expired prenup under a sunset clause.
A case in Connecticut may be revealing. There, a couple signed a prenup that said that if the couple was still married on their seventh birthday, the prenup would expire. Four months before the birthday, the husband filed for divorce, but they were still married on the birthday. The husband argued that since he had filed for divorce before the birthday, the prenup should be applied. Maybe a spouse was in a boy band when he got married, but this boy band is no longer successful. Meanwhile, his wife built a fashion empire. Changes to the prenup or to the design of a subsequent contract may be essential to protect both. So what`s the lesson to be learned? It is clear that any sunset clauses of a prenup that lead to renegotiations so that they effectively become a sunrise clause of a postnup – should generally be considered undesirable and approached with all due caution in the light of day. Many married couples now enter into prenup contracts to deal with the future distribution of assets and liabilities and whether there will be alimony payments in case they later decide to divorce. .
