What is a Pre-Nuptial Agreement?
A pre-nuptial agreement (prenup) is a legal contract entered into by a couple before marriage to outline how their assets, liabilities, and financial matters will be handled in the event of divorce, separation, or death. It sets clear financial expectations and helps protect individual interests.
Factors to Consider Before Entering a Pre-Nuptial Agreement
- Legality and Enforceability
- In Nigeria, pre-nuptial agreements are not explicitly recognized under the Matrimonial Causes Act, but courts may consider them if they meet legal principles of fairness and equity.
- The agreement must comply with Nigerian contract law principles, including free consent and fairness.
- Full Financial Disclosure
- Both parties must fully disclose their assets, liabilities, and income.
- Hidden or misrepresented financial details can make the prenup invalid in court.
- Fairness and Reasonableness
- A prenup must be fair and reasonable to both spouses.
- If the agreement is seen as unjust or heavily favoring one party, a court may refuse to enforce it.
- Legal Advice & Representation
- Both parties should seek independent legal counsel to ensure fairness.
- A prenup signed under duress, fraud, or undue influence can be challenged in court.
- Child Custody and Support
- Nigerian courts prioritize the best interests of the child over any private agreements.
- A prenup cannot override legal provisions regarding child custody and maintenance.
- Protection of Business & Assets
- Entrepreneurs and business owners use prenups to protect their business interests from being divided in case of divorce.
- Debt Protection
- A prenup can protect one spouse from being responsible for the other’s pre-marriage debts.
- Cultural and Religious Considerations
- Some ethnic and religious customs may impact the enforceability or social acceptance of prenups.
- Future Modifications
- The agreement should include provisions for review and modification, especially if circumstances change (e.g., childbirth, financial status).
- Court’s Discretion
- Even with a valid prenup, the court still has discretion to set it aside if it finds it unjust, unfair, or against public policy.
Conclusion
A well-drafted prenup can help clarify financial matters and prevent disputes. However, in Nigeria, its enforceability is subject to judicial review and must be fair, reasonable, and freely entered into by both parties.
Would you like help drafting a sample prenup agreement?
Author: Olanlekan Natha-Alade
(c) Sun Natha-Alade & Partners (SNATHAP)
Legal Practitioners & Notary Public
snathaplegals@gmail.com, www.snathap.com
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