A prenuptial agreement is a contract two parties enter into before marriage. Because this contract is legally binding, it is important individuals understand what they are getting themselves into before they sign. It is wise for people to carefully read the document and understand the following information before agreeing to any prenuptial contract.
Why Are Prenup Agreements Important?
While some people think a prenuptial agreement equates to a lack of trust, most see it as a form of protection. When diving property during divorce and dealing with disagreements, the prenuptial documents can be extremely helpful.
These contracts protect both parties and ensure everyone leaves the marriage with the property they brought in. These documents can be fairly simple or complex and should always be drawn up by an attorney.
4 Things You Should Know About Prenups
Although most people get married never believing it will end, there are still around 50% of marriages ending in divorce. A prenup agreement is simply a document that prepares for divorce before the vows are even said. The following are four important things you should know about these contracts before you sign the paperwork.
- While some would say everyone needs a prenup agreement, this is not always the case. Generally, these agreements are drawn up when one or both parties in the marriage has a substantial amount to lose, should a divorce occur. They are often used by those with previous marriages or by individuals who own businesses.
- Although prenups are legally binding agreements, when drawn up according to the law, they will not prevent a person from dealing with court issues, should they divorce. Long court battles can still sometimes be waged, even when prenup documents were drawn up.
- Demanding someone to sign a prenup agreement can sometimes place more stress on a time that should be full of joy. During the engagement period, no one wants to think about the relationship ending, but it is practical if they do. Individuals should tread carefully when deciding on prenuptial agreements and force should never be used.
- Though most people do not see it this way, marriage is a legal contractual agreement between two parties and treating it as such can be beneficial. A prenup can be used for different purposes, including outlining the responsibilities of each party in the marriage.
Getting the Help of an Attorney Is Important
Although some individuals attempt to draw up a binding prenup without legal help, this is not recommended. A prenuptial contract should be drawn up by an attorney because legal loopholes can spell disaster, should a divorce occur.
A simple consultation will allow individuals or couples to discuss their needs so the right steps can be taken. Taking measured steps will help to ensure there are no issues with the prenup that could lead to it being found to be inadmissible in court.
While entering into a prenuptial agreement may bring on a lot of questions from both sides, having this document is considered vital for those who have gone through a divorce.
With this protection in place, there will hopefully be less of a battle if the marriage ends. Getting help from an attorney every step of the way is essential for the protection of rights and the proper pursuit of finalizing the details of the prenup so it is legally binding in court.