What Are Some of the Most Common Misconceptions About Prenuptial Agreements?
Posted September 15th, 2023.
Prenuptial agreements are useful documents, but most couples have misconceptions about them and how they can be used. As a result, some who could have benefited from signing a prenup have yet to look into it. Let’s look at some common myths about prenups and why you might want to talk to a Cherry Hill prenuptial agreement attorney about making one for you and your spouse.
Are Prenuptial Agreements Only For Rich Couples or the Rich Spouse?
One of the biggest misconceptions is that prenuptial agreements are really only for the wealthy. These agreements can be useful for anyone with assets. So even if you don’t have a vacation home in Europe or a mansion with a car elevator, talking about a prenuptial agreement with your fiance can still be a wise idea.
Essentially, a prenuptial agreement is just designed to protect the interests and assets of both spouses. It sets some ground rules and there is no mystery about what each of you has agreed to.
Are Prenuptial Agreements Expensive to Write?
Yes, you will probably need a lawyer to write a binding prenuptial agreement that stands up to legal scrutiny. This is not all that expensive of a service though. Prenuptial agreements can be quickly handled by our law firm.
The small amount of money it costs to prepare a prenup is dwarfed by the potential cost of divorce litigation. If you have no agreement and your marriage ends, deciding who gets what can cost a lot of money. A prenup is a small investment that could help you save thousands of dollars later on.
Do Prenups Have a Use Outside of Divorce?
Another interesting thing about prenuptial agreements is that they are not just used in divorce. This misconception has certainly contributed a bit to the bad reputation that this document has.
A prenuptial agreement can also be used to outline the financial expectations of both partners. One can even be used to help establish estate plans later in life.
Does Having a Prenup Mean That I Don’t Have Faith in My Own Marriage?
Another myth about prenuptial agreements is that they are only for weaker relationships and marriages that are doomed to fail. This is not the case. A couple that gets together to honestly discuss finances, assets, and what will happen in the future is a couple that can handle the tough conversations that come with marriage. Signing a prenuptial agreement is not a sign of weakness, but instead could be one of the first steps on the way to establishing a stronger marriage.
Talk to a Lawyer Today
Now that you know more, you can decide whether or not a prenuptial agreement is right for you. You can contact the Law Offices of Mark S. Guralnick and schedule an appointment. Our family law experts are here to help you with anything that you need.