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Myths about prenuptial agreements

On Behalf of | Oct 22, 2018 | Prenuptial Agreements |

Getting married is a big deal to some couples. It can be a lifelong goal, and when the big day finally comes, all their dreams can come true. One thing that is not part of their dream is divorce. While it may not be a desired life event, the reality is that it can happen. Because of this, many married couples take steps to help protect him or herself in case their marriage does not last.

There are many myths when it comes to including a prenuptial agreement in a marriage. And in many cases, these myths prevent individuals from taking the time to fully understand this document and how it could help them. Because of this, it is important to bust these myths and become fully informed.

To begin, one might think one spouse must be wealthy in order to need a prenup. This is completely false, as it does not matter how much wealth or property one has; he or she has the ability to protect what theirs. Next, couples drafting a prenup might think they can include anything they want in the document. While there is room for some flexibility, this is completely false. There are unreasonable terms and items that go against public policy, such as provisions about not providing child support.

Another myth is that one does not need an attorney to enter into a prenuptial agreement. While it is not 100 percent necessary, it is a very good idea to have one to explain your rights and options. Next, couples might think that entering into a prenup means that they are destined to divorce. This is also false, as just having the document does not mean the marriage will end. Couples may also believe that prenups are only good for divorce; however, they are also useful if a couple slips or one spouse dies.

Finally, couples may believe that prenups and inflexible, can be entered into last minute and that a postnuptial agreement is always possible. The couple is not completely bound to the terms of the agreement in the event of divorce, as there is some flexibility with interpretation and circumstances. Entering into a prenup last minute often signifies coercion and could void the agreement. Postnuptial agreements are possible, but they are often more complicated.

Entering into a prenuptial agreement can be a lengthy process. Many thoughts and considerations go into the drafting of the document, making it imperative that couples think through the contents of the agreement.