A prenuptial agreement is a legal document that lays out what will happen if a couple divorces. For example, it can address the property that each person brings into the marriage and stipulate that the property will remain with the person who had it before the nuptials. This is one reason why prenuptial agreements are often used by wealthy couples. However, prenups are also becoming quite popular with couples who aren’t celebrities or very wealthy.
People do make mistakes when drawing up a prenup, though, and some of the mistakes can be rather costly. Here are four of the most common mistakes so you can avoid these similar problems.
— It’s not romantic so you don’t talk about it. Frank and honest communication about a prenuptial agreement can be awkward. It’s not exactly the most romantic topic. It’s also not something you should be talking about the day before your ceremony. One celebrity divorce attorney advises to get the prenuptial agreement taken care of six months before you say, “I do.”
— You simply agree to whatever he or she wants just to have the conversation over. This can cost you a lot if there is a divorce in the future. Avoid listening to your emotions or to others who say they have your best interests at heart — like his parents. The conversation doesn’t have to be confrontational, but you want to make sure everything is discussed in depth when needed.
— You decide his attorney is your attorney, or vice versa. Each party should have his or her own attorney. The goal of a prenuptial agreement is to make it as fair as possible, but also to make it is enforceable. Should a divorce occur, your attorney will look for ways to ensure the prenup is enforceable if it is for your best interests or perhaps not enforceable if it won’t help you in the divorce.
— The prenup is always on my mind. A prenup is not meant for you to constantly think about after you’ve signed it and gotten married. While you’re married, enjoy the great times filled with love and laughter. However, if the marriage doesn’t go well and a divorce is needed, then it’s time to pull out the prenup and see what you’ll keep after the divorce.
Source: The Knot, “Prenuptial Agreement Sample Form and 5 Mistakes to Avoid,” Ivy Jacobson, accessed Aug. 19, 2015