The parties entered into a
prenuptial agreement ten days prior to their marriage. Neither party had legal
counsel but had discussed the agreement for several months. The wife was
"an individual with a high level of education and business acumen who,
having twice married, understood the significance of the document she was about
to sign and chose not to seek the advice of a lawyer." The agreement
essentially provided that each party's property at the time of the marriage
would remain his or her separate property. The agreement included a section
entitled "Pension Benefits" in which each waived his or her right to
the other's such benefits. In his financial disclosure, the husband listed
various pension accounts but did not specify the pension he would receive from
his employer. The trial court found that there was sufficient mention of pension
benefits to avoid a finding of fraud, duress or coercion and the District Court
affirmed:
1. "We first address whether
the agreement was reached under duress, coercion or overreaching. The record
before us presents the former wife as an individual with a high level of
education and business acumen who, having twice married, understood the
significance of the document she was about to sign and chose not to seek the
advice of a lawyer. And, while the parties disagreed over the amount of time
the former wife had to contemplate the agreement, we hold that a trial court
does not abuse its discretion by declaring that a period of ten days prior to
the marriage is sufficient time for one to exercise the opportunity to review
the agreement, and, if one so chooses, to seek the advice of legal
counsel."
2. "We next address whether
the former husband's failure to specifically disclose his airline pension plan
constitutes fraud, deceit, or misrepresentation. The agreement specifically
provided that each party shall retain as separate property all retirement
accounts and property listed on the attached schedules."
3. "Additionally, the
agreement included a provision specifically addressing pension benefits under
its own section heading. The former husband's schedule of property referenced "Retirement
Plans (Keogh, 401(k), etc)" and specifically listed the former husband's
401(k) plan through his employer; however, no mention was made of the airline
pension plan of which the former husband was a beneficiary." When considering the value of the employer
pension in light of the other substantial assets that the former husband fully
disclosed, the prominent mention of pension benefits in the body of the
agreement is sufficient to provide the former wife with a general and
approximate knowledge of the husband's resources."
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