Mistakes to Avoid When Creating a Prenuptial Agreement

 Posted on April 19, 2019 in Prenuptial Agreements

The purpose of a prenuptial agreement is to save you time and stress in the event that you divorce. Mistakes in your agreement can make the divorce process more complicated instead. Imagine your frustration if you learn that the agreement is unenforceable because of the way you created it or a provision in it. You may end up renegotiating your division of property and spousal maintenance. A fully enforceable agreement could be just as frustrating to you if you realize that it leaves you at a disadvantage. You would need a legal reason to discard a valid contract. Despite the possible problems, there are many couples who benefit from having a prenuptial agreement when they divorce. There are four mistakes that you should avoid when creating an agreement:

1. Do Not Rush: You should give yourself weeks to months to create your prenuptial agreement. You need time to consider what you want from the agreement and to examine it before you approve it. You may feel tempted to hurry through the process because the idea of getting divorced makes you uncomfortable. However, you will wish you had taken the time to understand the agreement if you end up using it.
2. Do Not Withhold Information: A prenuptial agreement can be invalid if one of the parties lied about or withheld financial information that would have changed the agreement. This is usually a valuable premarital property that someone hid. If your future spouse knew about the property, he or she may have asked for a greater share of marital assets. Parties can also withhold information about debts that could become a marital obligation in a divorce.
3. Do Not Use the Same Lawyer: At first glance, it may seem practical to share one family law attorney when creating a prenuptial agreement. You are on good terms with each other and share the same goals. However, you each need your own attorney to look at the agreement and make sure that it is fair to you. You should choose your own attorney to ensure that he or she is independent of your partner.
4. Do Not Sign Anything You Are Uncomfortable With: You are not obligated to approve a prenuptial agreement before your marriage. If something in the agreement seems wrong or confusing, ask your attorney to explain it to you. Your future spouse is not allowed to pressure you into signing, such as presenting an agreement the day before your wedding. Creating an agreement under duress would make it invalid.

Contact a Naperville Family Law Attorney

A prenuptial agreement is a complicated document, much like a divorce agreement. You need an experienced DuPage County family law attorney at Calabrese Associates, P.C., to create a valid agreement that is fair to you. To schedule a consultation, call 630-393-3111.

Source:

https://www.theknot.com/content/prenuptial-agreement-sample-form-mistakes