Asset Disclosure

  • Disclosure Statements (Exhibits “A” and “B”): The parties are required to prepare detailed Asset Disclosure Statements, which are attached to the agreement as Exhibits “A” and “B.” These documents provide a comprehensive overview of each party’s assets.

  • Acknowledgment and Review: Each party must acknowledge that they have received, reviewed, and are fully acquainted with the other’s financial estate. This includes knowledge of each other’s income, assets, liabilities, and approximate net worth.

  • Completeness and Accuracy: The parties are responsible for ensuring that the disclosure of their assets is complete and accurate. They must represent and agree that all property of every kind has been disclosed to the best of their knowledge, and values are either exact or reasonably estimated.

Waiver of Rights

  • Appraisal Waiver: By signing the agreement, each party voluntarily waives the right to have the other’s property appraised. This means they rely on the disclosed values and do not seek independent valuation.

  • Further Disclosure Waiver: Additionally, parties waive the right to any further disclosure beyond what is contained in the agreement and the attached exhibits. This waiver is based on the trust that all significant assets and liabilities have been disclosed.

Income Disclosure

  • Income Transparency: Similar to asset disclosure, each party must fully disclose their income. This ensures that both parties are aware of each other’s earnings, contributing to informed decisions regarding the agreement’s financial provisions.

Importance of Financial Disclosure

  • Legal Integrity: Adequate disclosure also protects the legal integrity of the prenuptial agreement. Incomplete or inaccurate disclosures can lead to disputes or the invalidation of the agreement in the future.

  • Informed Decision Making: By having a clear understanding of each other’s financial situation, both parties can make more informed decisions about the terms of the prenuptial agreement, particularly those related to financial arrangements and asset division.