When planning to get married, the last thing you want to do is prepare a plan if the marriage doesn’t work out, as it dampers the romance. However, while it is not exactly romantic, drafting a prenuptial agreement can safeguard both spouse’s interests if the union ends in divorce. While prenuptial agreements generally are used to cover property distribution, they can also be used to deal with other matters. Unfortunately, many couples hesitate to create this legal agreement due to common myths and misconceptions. If you are getting married, it is in your best interest to contact a knowledgeable Ocean County Prenuptial Agreement Attorney who can help you protect your hard-earned assets from unexpected situations. Please continue reading to learn about some common misconceptions regarding prenuptial agreements.
What are some of the most common misconceptions about prenuptial agreements in New Jersey?
Unfortunately, many couples hesitate to create a prenuptial agreement because of misconceptions. However, an agreement tailored to your needs can significantly benefit you and your spouse. Don’t let the misconceptions keep you from safeguarding your hard-earned assets. The following include but are not limited to some of the most common misconceptions surrounding prenuptial agreements:
- Prenuptial agreements are only for wealthy couples. Generally, people assume that this legal document only benefits high-net-worth individuals. However, that is not the case. Prenups help anyone with assets, regardless of income level.
- Prenuptial agreements mean you expect the marriage to fail. Couples often assume that if they ask their spouse to sign this contract, they admit the marriage will likely fail. However, on the contrary, asking your spouse to sign this agreement does not mean you do not trust them or that you expect the marriage to fail. Instead, couples can address their marital expectations, determine ownership, and set a solid foundation for a harmonious relationship.
- Prenuptial agreements are expensive. While most people assume prenups are costly, they can save couples significant money in the long run. When divorcing, the cost of litigation can be astronomical if a mutually beneficial agreement cannot be reached. As such, a prenup can lay out the terms that will apply to the termination of the marriage, meaning it can help save you thousands of dollars in the future.
- Prenuptial agreements are not legally binding. Once both spouses sign this agreement, the terms stipulated in the contract will be enforced. The only time that the court does not enforce prenups is when one spouse was coerced into signing it, the proper legal procedures required for this agreement were not met when it was created, or it is found one-sided (unfairly favoring one spouse). Although there are exceptions, they are enforced in court when they are properly executed.
Although discussing prenuptial agreements can be difficult, don’t let myths or misconceptions stand in the way of protecting yourself during a divorce. If you are considering creating a prenuptial agreement, contact a trusted Ocean County prenuptial agreement attorney from the Law Office of Sarina Gianna, LLC, who can help you draft this contract to safeguard your assets.