6 Costly Myths About Prenuptial Agreements

Rate this article
Sending
User Review
5 (1 vote)

Myth #1 – Prenuptial agreements are only for the wealthy. No. Prenuptial agreements are for ordinary people. Given the high legal fees and stress involved in a divorce, the frequency with which relationships end nowadays, as well as peoples’ increasing financial sophistication and independence, a prenuptial agreement can benefit just about everyone.

Myth #2 – Prenuptial agreements are only useful if your relationship breaks down. No. Prenuptial agreements can be useful estate planning tools. Without a prenup, your spouse may be able to invalidate your carefully thought out estate plan. A prenup can be especially helpful if you have children from a previous marriage or have family heirlooms that you want to keep in the family.

Myth #3 – Prenuptial agreements are unromantic. No. Being able to sit down and discuss with your partner both of your future financial plans and expectations for the relationship will lead to a more solid foundation for your relationship than simply expecting your love to take care of everything.

Myth #4 – Prenuptial agreements won’t be upheld by the courts. No. Although courts occasionally do invalidate prenups, these are normally ones prepared without the help of attorneys, or ones where there was coercion in getting one partner’s signature. If you have a properly drafted prenup, and there was no duress, it is likely that your prenuptial agreement will stand up in court.

Myth #5 – Only men want prenuptial agreements. No. Prenuptial agreements are a useful way of setting out your and your partner’s expectations for the relationship. There’s no need for a prenup to be biased in either partner’s favor. For instance, a woman may insist that if she is going to stay home and raise children, that her prenuptial agreement include provisions to compensate her for this interruption in her career through spousal support.

Myth #6 – Prenuptial agreements are expensive. No. Compared to the cost of an average wedding or an average divorce, prenuptial agreement are a bargain. The best way to think about it is like buying insurance: it’s a small one-time cost for something you never hope to use, but if you ever need it, you’ll be glad you have it, and it will save you a lot of money.

63 Comments

  1. Avatar
  2. Avatar
  3. Avatar
  4. Avatar
  5. Avatar
  6. Avatar
  7. Avatar
  8. Avatar
  9. Avatar
  10. Avatar
  11. Avatar
  12. Avatar
  13. Avatar
  14. Avatar
  15. Avatar
  16. Avatar
  17. Avatar
  18. Avatar
  19. Avatar
  20. Avatar
  21. Avatar
  22. Avatar
  23. Avatar
  24. Avatar
  25. Avatar
  26. Avatar
  27. Avatar
  28. Avatar
  29. Avatar
  30. Avatar
  31. Avatar
  32. Avatar
  33. Avatar
  34. Avatar
  35. Avatar
  36. Avatar
  37. Avatar
  38. Avatar
  39. Avatar
  40. Avatar
  41. Avatar
  42. Avatar
  43. Avatar
  44. Avatar
  45. Avatar
  46. Avatar
  47. Avatar
  48. Avatar
  49. Avatar
  50. Avatar
  51. Avatar
  52. Avatar
  53. Avatar
  54. Avatar
  55. Avatar
  56. Avatar
  57. Avatar
  58. Avatar
  59. Avatar
  60. Avatar
  61. Avatar
  62. Avatar
  63. Avatar
  64. Avatar

Leave a Reply

css.php