A New Perspective On Prenups
There is a common (unfounded) belief that prenuptial agreements are offensive or insulting. Though there are several reasons why these sentiments are so pervasive, a reason why might be because they are assumed to be one-sided.
Many people envision a scenario where your soon-to-be spouse earns or has more money than you do. The more moneyed spouse asks you to sign a prenuptial agreement because they want to keep their assets if and when the marriage ends.
If you use the scenario above as the basis of all prenuptial agreements, then it is understandable why you mistrust them. Instead, take a different approach. Think of a prenuptial agreement as a two-sided conversation that you have with your future spouse about finances.
A Fresh Look
Another reason why our example is so flawed is that people assume the terms of the prenuptial agreement are set. In other words, they are under the impression that the prenuptial agreement only protects the person asking for it.
There are no set terms. The people creating the agreement can sculpt it based on their discussions. It should not be something your future spouse drafts in private with their own attorney and then lays in front of you to sign. It must be fair in substance when you create the prenuptial agreement together. It has to be. If someone leaves something out, the agreement can become unenforceable.
There should be no pressure or rush to sign. Furthermore, you and your future spouse should have your own attorneys. A single attorney cannot represent both of you because there would be conflicts of interest. There is nothing wrong or deceptive about hiring separate attorneys.
A Tool For Responsible Adults
You and your spouse should have a conversation about your financial situation before getting married—and a prenuptial agreement is a catalyst. However, it is not something to be done last minute. Plan on having the agreement finalized, at the very least, one month before your wedding while allowing 1-3 months to work through it.
Because you cannot have any financial secrets, it may be wise to contact a financial planner to assist you. Rather than falling for misconceptions, think of your prenuptial agreement as a way to responsibly prepare for your future life with your partner.
Law Offices of Mackenzie Sorich
At the Law Offices of Mackenzie Sorich, we believe that family is the most important thing you have—and it doesn’t go away even after a divorce. Contact us for your consultation for professional and reliable legal representation that is driven to protect you and your family.