In the case of Friezo v. Friezo, the Connecticut Supreme Court ruled that a trial court properly found that the parties premarital agreement was valid and enforceable even though the husband only listed his assets, titled them ambiguously, gave no explanation for how they were valued, and, in some cases didn’t explain what they were. The agreement was also upheld even though counsel for the wife worked in the same firm as her husband's attorney and the wife had been referred to this attorney by her husband.
In Virginia, antenuptial agreements are governed by Virginia Code Section 20-147 et seq. According to Virginia Code Section 20-151(A), a premarital agreement is not enforceable if the person against whom enforcement is sought proves that:
1. That person did not execute the agreement voluntarily; or
2. The agreement was unconscionable when it was executed and, before execution of the agreement, that person (i) was not provided a fair and reasonable disclosure of the property or financial obligations of the other party; and (ii) did not voluntarily and expressly waive, in writing, any right to disclosure of the property or financial obligations of the other party beyond the disclosure provided.
I’m not sure if the premarital agreement in Friezo would have been ruled enforceable had this case been tried in the Commonwealth. "To render an ante-nuptial agreement valid [in Virginia], there must be a fair and reasonable provision therein for the wife, or — in the absence of such provision — there must be full and frank disclosure to her of the husband's worth before she signs the agreement, and she must sign freely and voluntarily, on competent independent advice, and with full knowledge of her rights." Carpenter v. Carpenter, 19 Va. App. 147, 150, 449 S.E.2d 502, ___ (1994) (citing Batleman v. Rubin, 199 Va. 156, 98 S.E.2d 519 (1957)), In Carpenter, the Virginia Court of Appeals ruled that a husband's premartial agreement was not enforceable where the husband failed to disclose the value of his financial holdings). The disclosure by the husband in Friezo seems to fall short of the standards set forth in Carpenter.
-Rob Hagy
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