PreNups: Myths v. Truths

There are several myths regarding Pre-Nuptial Agreements that prevent many couples from broaching the topic. Keep reading to find if a Pre-Nup is right for you!

MYTH #1: ONLY PROTECT WEALTHIER SPOUSE

False. Pre-Nuptial Agreements must be fair for both parties. If the Agreement is found to be unconscionable by the Judge, it will not be honored.

MYTH #2: ONLY FOR THE RICH

False. Even if you and your spouse do not have much now, over time your income and assets will most likely increase. Your home and retirement accounts will probably become more valuable and you may even inherit additional money or assets from your families. A Pre-Nup can protect the accumulated wealth and decide how it will be dealt with.

MYTH #3: MUST COVER EVERYTHING/ONLY USEFUL IF YOU SPLIT

False. The agreement can be as detailed or broad as you like. It can be limited and cover one specific asset or inheritance, or deal with a wide range of areas. You may also specify in the Pre-Nup issues that you will encounter during the marriage, such as the usage of funds, career expectations, child support from a previous marriage and the like.

MYTH #4: KILLS THE ROMANCE

False. Pre-Nuptial agreements have a stigma of being unromantic, however, they are actually endearing in a way. If two people love each other, they should be open and reasonable enough to plan for a possible future without each other and want to make sure that they will both be taken care of. Moreover, statistics have shown that marriages can actually last longer between couples who have Pre-Nups, as neither party is worried about how the length of their marriage will affect the division of their assets and, instead, can work together towards saving their marriage.

For more information, contact us at edamaral@amarallaw.com.

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