Modification of prenuptial agreement

How often does it happen? Prenuptial agreements are made just before the marriage in between all the preparations. After the marriage, the prenuptial agreement disappears into the bottom drawer of the cupboard; the document is never read again and after years is thick with dust. The prenuptial agreement only reappears when a divorce is being considered, for example, or one of the spouses dies. After marriage, however, time has moved on and not only personal circumstances but also the law, case law and tax laws have changed.

Perhaps the plan to own a business, which was the reason for making the prenuptial agreement, never materialised. In that case, should the assets remain separate, as agreed at the time? Perhaps an annual settlement of income was agreed but never implemented. In that case, is it really the intention that, based on current jurisprudence, both assets should be shared? Perhaps one of the spouses received an inheritance, or won the lottery. Is it reasonable that this amount should accrue to only one of the spouses, or just not? Perhaps what was beneficial for tax purposes in the past now works out very unfavourably due to a change in the law. There can be so many reasons why things in life turn out differently than expected at the time.

With a divorce on the horizon, one of the spouses often experiences that the prenuptial agreement works out disastrously for him or her. Often, only then do you realise that it would have been better to have held them up to the light earlier. But with an impending divorce, the other party is usually no longer willing to change the agreements made, even if they turn out to be unreasonable under the current circumstances.

We therefore advise you to have a review at least once every five years to see whether your prenuptial agreement still suits your current personal situation and whether it is still up to date for tax purposes. If they are not, the prenuptial agreement can be amended. Previously, this required the intervention of the court; nowadays this is no longer the case.

For more information on amending prenuptial agreements, please contact us. We will be happy to advise you.