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Prenuptial Agreements and a Successful Marriage
We’ve all heard that “almost half” of all marriages in the United States end in divorce. The statistics say that 67% of second marriages end in divorce and 74% of third marriages end in divorce. So what can you do to protect yourself and your assets?
A prenuptial agreement can be one of the best ways to protect assets if you have concerns that a marriage may eventually end in divorce. In 2023, Ohio changed the law governing prenuptial agreements and postnuptial agreements, making them valid and enforceable provided:
The agreement is in writing and signed by both spouses.
The agreement is entered into freely without fraud, duress, coercion or overreaching.
There was full disclosure, or full knowledge, and understanding of the nature, value and extent of the property of both spouses.
The terms do not promote or encourage divorce or profiteering from divorce.
To ensure the validity of a prenuptial agreement or a postnuptial agreement, full and complete disclosure is paramount. A proper prenuptial agreement or postnuptial agreement should include an inventory detailing both spouses’ assets, each asset’s value, and the source of all valuations. Failure to provide full and complete disclosure will often invalidate a prenuptial agreement or postnuptial agreement.
In addition to providing full and complete disclosure, there are several types of prenuptial agreement clauses that courts have consistently invalidated. This includes anything related to child custody or child support, provisions excluding either spouses’ right to counsel, unconscionable spousal support terms, and unusual clauses such as those requiring a spouse to maintain a certain hair color or levying penalties for a spouse who gains weight during the marriage.
So, Can I Include a “Straying Fee”
Depending on your age and your interest in Hollywood lifestyles, you may know the rumored story about a prenuptial agreement between two famous people with the initials CZ-J and MD, it goes something like this:
When CZ-J and MD got married, CZ-J was “totally” in love but was “concerned” that the marriage could end because MD had cheated on his first wife repeatedly, including with his wife's best friend. To avoid contentious litigation in the event of a divorce, they agreed that CZ-J will get $1.5 million for every year of marriage from MD. Notably, a clause was added stating if MD cheats, CZ-J will receive a $5 million “straying fee.” What did MD get in the agreement? A confidentiality clause from CZ-J in the event of a divorce.
Is this rumor true, I don’t know. What I do know is that from all accounts the pair are happily married (circa. 2024) and no court has been asked to review this clause to determine if it is enforceable.
Alexander Family Law
Christopher M. Alexander has helped individuals draft prenuptial agreements for 25 years. If you need a skilled and experienced family law attorney to guide you through updating a prenuptial agreement or drafting a postnuptial agreement, contact Christopher M. Alexander, Esq. at (513) 228–1100 or chris@alexander-legal.com.