Generally, most couples do not prepare for their wedding day, thinking about what will happen to their assets if the marriage fails, as it dampens the romance. However, such discussions are a vital proactive approach to safeguarding each party’s interests in the event of a divorce. Despite the negative stigma surrounding prenuptial agreements, couples can significantly benefit from creating one before they tie the knot. Nonetheless, many misconceptions cause couples to become reluctant to establish them as they do not want to start their marriage off on the wrong foot. Couples should look at prenuptial agreements not as a sign of doom but as a solid foundation for a lasting union. If you are considering creating a prenuptial agreement, contact a trusted Suffolk County Prenuptial Agreement Attorney who can help protect your hard-earned assets from unexpected situations. Please continue reading to learn about some common misconceptions about prenuptial agreements.
What misconceptions surrounding prenuptial agreements make couples hesitant to create one?
Prenuptial agreements are legal contracts that couples sign before marriage that stipulate how a couple will handle certain situations if they end up getting divorced. Unfortunately, there are various myths and misperceptions surrounding prenuptial agreements. However, you should not let these misconceptions stand in the way of establishing this essential legal document, as it will protect your interests in the future. One of the most persistent myths about prenuptial agreements is that they only benefit wealthy couples. However, that is not the case, as this agreement makes sense for any marriage. Couples that have assets or expect an inheritance should establish a prenup. This legally binding contract allows couples to decide how their marital assets will be divided in the event of a divorce rather than leaving the decision in the hands of a judge. Therefore, regardless of income level, couples can benefit from creating one.
Although prenups are commonly used to determine how assets will be divided in the event of a divorce, they can cover more than just assets. Some couples mistakenly assume that prenups only come into play if the marriage ends. Still, they can also aid in establishing financial expectations and ownership of assets and even help create an estate plan. They can also address other potential issues in a divorce, such as alimony, debts, support, and child-care responsibilities. A properly drafted prenup can help establish the terms that will apply to the termination of the marriage, which will minimize future conflicts.
Are prenups rarely enforced in court?
Furthermore, many couples wrongly believe that prenups are not enforced in court. While there are times when prenups are not implemented in court, most are. The only times the court will not enforce this agreement is if one spouse was under duress when signing, the proper legal procedure requirements were not met when it was created, or it is one-sided. Despite these exceptions, well-drafted prenups are generally enforced in court.
There are several misconceptions surrounding prenuptial agreements. However, if you are embarking on a new marriage, discussing how this legal document can safeguard your future is vital. A qualified Suffolk County prenuptial agreement attorney from The Law Offices of Susan A. Kassel, P.C., can address any concerns regarding creating a prenuptial agreement. Our firm is prepared to help you safeguard your hard-earned assets and set a solid foundation for a harmonious union.