What Is a Prenuptial Agreement?
A prenuptial agreement is a written contract that the husband-to-be and wife-to-be draw up before they get married. A prenuptial agreement lists each person’s assets and debts. It also lists each person’s property rights if the marriage ends in divorce.
Typical Misconceptions about Prenuptial Agreements
Some of the typical misconceptions about prenuptial agreements include the following:
Only the Wealthy Need Prenups.
The Wall Street Journal advised couples that if they have assets, they must have prenuptial agreements. This is true if one of the partners expects to receive a large inheritance. It is a contract that allows any couple to be in charge of the way that their assets are divided if the marriage were to end rather than leaving this important step to a judge. Every couple can benefit from this whether they have millions of dollars in the bank or thousands. With everything worked out beforehand, a couple can make sure that the divorce process can proceed quickly and smoothly.
Prenups Mean that One Spouse Doesn’t Trust the Other.
Either one spouse doesn’t trust the other, or one spouse isn’t as committed to the marriage as the other spouse. According to USA Today, negotiating a prenup brings couples together and helps them trust each other more. A majority of the arguments that couples have are about money. Drawing up a prenup with a Pleasanton CA family law attorney brings everything out in the open. Then, both spouses know exactly what they can expect from the other spouse when they combine their finances. If they don’t have these discussions before the wedding, they will definitely have them after the wedding, and it could be highly unpleasant then.
Prenups Aren’t about Anything but Money.
Prenups are written to explain how the couple wants to separate their assets, but this isn’t the only thing that goes into them. Once one spouse retains a Pleasanton CA divorce attorney, it will make the process easier if spousal support, any debts and the care of the children have already been decided. If a Pleasanton CA divorce lawyer draws up a well-written prenuptial agreement, there won’t be any additional stress added to this unpleasant situation.
Prenups Are for the One with the Most Assets.
When you hire a Pleasanton family law attorney, he or she will draw up a prenuptial agreement that protects both spouses. If the agreement appears to be in favor of one person, the judge often throws it out. A prenup helps the spouse with fewer assets because he or she knows what he or she is entitled to receive, and it saves everybody money.
Prenups Cost a Lot of Money.
A Pleasanton CA prenup attorney can draw up a simple prenuptial agreement for a very affordable price. It can be much more costly to negotiate these questions in court than to have a prenup created. It can even mean saving thousands of dollars.
Prenups Are Only Useful During a Divorce.
Prenups are often used to help each spouse understand what is expected of him or her financially. A Pleasanton CA prenup lawyer can also write the couple’s estate plans into the agreement.
The Courts Don’t Enforce Prenups.
Sometimes, judges will throw prenups out. One example is the one listed above when one side is favored more than the other, but most prenups are enforced. Another example is when one spouse was forced to sign the agreement.
At Tierney Law Group, we are aware that a prenuptial agreement strengthens your relationship. Before anyone gets married, they must make an appointment to discuss having a prenuptial agreement drawn up for them. A Pleasanton CA prenup lawyer at our office will be happy to meet with you and create an agreement that will serve your purposes.