MIAMI, Florida. Prenuptial agreements are becoming increasingly popular. As more couples get married older, they’ve had some time to amass considerable wealth. Other couples are getting married for the second time or they have children from a prior marriage. Some couples use the discussions that a prenuptial agreement raises to review finances and other issues. The process of drafting a prenuptial agreement requires honest conversations about money. While the conversation can sometimes be difficult, honesty about money is important to your marriage because many marriages end when couples fail to be honest about spending, assets, and debts.
Whatever your reasons, more couples are choosing to create prenuptial agreements before they get married. Yet, it is important to do it right. Here are five big prenuptial agreement mistakes to avoid:
- Failing to get a lawyer. According to the Huffington Post, each person should hire his or her own attorney when drafting the prenuptial agreement. Even though you trust your partner (you’re getting married, after all) in order for the prenuptial agreement to be considered valid in court, you’ll need to show that both parties entered into the agreement of their own free will and also that each party knew what they were signing. Both you and your future partner should each have your lawyer. Sandy B. Becher, P.A. is a prenuptial agreement lawyer in Miami, Florida who can assist you if you are planning to draft a prenuptial agreement.
- Waiting right before the wedding to sign the prenuptial agreement. Generally, the prenuptial agreement should be drafted and signed shortly after you get engaged. If the invitations have been sent out, it’s probably too late.
- Failing to fulling disclose all your assets, debts, and properties. In order to be enforceable, each party must disclose everything about their financial life to the other party. If you hide anything, the other party might be able to successfully claim that the prenuptial agreement is not enforceable. Take the time to review your financial history with your lawyer and tell everything. A qualified attorney can also help you thoroughly consider your financial life when drafting your prenuptial agreement.
- Letting emotions interfere with discussions. Money discussions can be stressful. However, the Knot notes that marriage is both a partnership formed in love, and a financial partnership. Having tough financial discussions today can lay strong foundations for better money decisions tomorrow. A prenuptial agreement can be a great way to get those important discussions started.
- Avoiding talking about a prenuptial agreement out of fear. If you are thinking about whether you need to sign a prenuptial agreement and are afraid to bring it up with your partner, consider why. Open and honest communication is essential to any marriage. Just as a marriage requires open communication about feelings, fears, and concerns, it also requires open discussions about financial matters, too.
If you’ve gotten engaged, congratulations. Now might be the time to begin thinking about whether a prenuptial agreement might be appropriate. Contact Sandy B. Becher, P.A., a prenuptial agreement lawyer in Miami, Florida today to learn more.
Sandy B. Becher, P.A.
201 S. Biscayne Boulevard
Twenty Seventh Floor
Miami, FL 33131