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Pre Nuptial Agreements Part 4

Full Disclosure Sample Clause

What is a Prenuptial Agreement?

"Each party has been apprised of the right to obtain full disclosure of the financial circumstances of the other party and is fully satisfied with the disclosure made and has directed that there be no further financial disclosure and acknowledges that said wavier is made with the full benefit of legal counsel and the knowledge of legal consequences thereof; further, that neither party properly cannot and shall not, subsequently assert this agreement should be impaired or invalidated by reason of any lack of financial disclosure or lack of understanding or fraud, duress, or coercion."

Indication of Time Clause

"The parties have negotiated this agreement over a period of time, and each party has had full and ample time to review all provisions privately and in consultation with an independently selected attorney. Each represents that no pressure, duress, or coercion of any nature has been exercised and that each party has had sufficient time to review with his or her counsel each provision of the agreement for a full and complete understanding of the legal meaning and consequences of every provision with enough time to make an inquiry, give full and un-pressured consideration, and to evaluate fully each and every provision.

Legal Representation

"Each party has hired independent counsel of his or own choice. Wife has been represented by Attorney X, and husband has been represented by Attorney Y. The parties and counsel have had ample time to negotiate the making and execution of this Prenuptial Agreement."

In Europe in the 9th Century, husbands were required to secure 1/3 of their property to their wives on their deaths as inheritance rights to the wife, or dower rights. Under English Common Law, and in Colonial America "dower" was the share of a deceased husband's real estate to which his widow was entitled upon his death.

In 15th Century England, Kind Edward IV had, reportedly, a prenupt with Eleanor Butler some time between 1461 and 1464.

Because women of the United States, up until the 19th Century could not own property, they needed marriage contracts to guarantee them property in case of a divorce or their husband's death. That started to change when New York State passed a Married Women's Property Act of 1848.

Today, though not common, Prenuptial Agreements are recognized and the Uniform Pre-Martial Agreement Act has been adopted by most states and governs prenuptial agreements between protective spouses contemplating marriage.

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Davis & Davis Attorneys at Law

Davis & Davis Attorneys At Law