Panel: Make Sure Prenup Terms are Clearly DefinedJune 2015 – Articles The Philadelphia Bar Reporter
Clearly defined terms are an important component of a comprehensive and successful prenuptial agreement. On May 4, the anatomy of a prenuptial agreement was presented to the Family Law Section by attorneys Lisa Shapson, Sarah Slocum, Randi Rubin and Renzo Cerabino, a former attorney now wealth manager for BNY Mellon.
Slocum opened the panel with a discussion of Simeone v. Simeone, the seminal case on prenuptial agreements. In Simeone, the Pennsylvania Supreme Court determined that the test for validity of a prenuptial agreement was not whether or not the terms were reasonable. Instead, prenuptial agreements should be assessed under contract law. Therefore, in order to overturn a prenuptial agreement the moving party must prove, with clear and convincing evidence, fraud, misrepresentation or duress. It was further determined that presenting and/or signing a prenuptial agreement on the day of or the eve of a wedding is not considered duress.
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