5 Myths Surrounding Prenuptial Agreements
The words “prenuptial agreement” can trigger feelings of apprehension and anxiousness, as prenups are only used as a safety measure in case of divorce, and who wants to preplan divorce safeguards, right? Wrong! The common misconception that prenups are only used as a safety guard for divorce is one of many myths surrounding prenups. In reality, prenuptial agreements serve the purpose of providing an opportunity for couples to get on the same page for planning their future, while also protecting both spouses. At Buckhead Family Law, we understand that there are certain misconceptions surrounding the idea of getting a prenuptial agreement, and we are here to identify and dismantle those misconceptions.
- Prenuptial agreements are only relevant in the event of a divorce
Arguably the biggest, and most common misconception about prenups is that they are only relative in a divorce. In actuality, a prenuptial agreement has the potential to achieve several outcomes, the most basic being able to outline financial expectations and ownership as well as assisting in establishing an estate plan.
- Couples who are thinking about getting a prenuptial agreement must not trust each other
Getting a prenup isn’t an indicator of distrust or that the couple is planning for future marital failure, quite the opposite actually. Prenups allow couple to have straightforward and honest conversation about their expectations if the marriage doesn’t work out. Couples who genuinely trust one another should feel comfortable having these types of conversations; having the communication skills to have these types of conversations is unmistakably planning for success.
- Prenups are just for celebrities and the wealthy
The media has sensationalized the idea of prenups by parading the rich and famous partaking in such a thing, however the idea that prenups are only to protect the wealthy and their high asset estates is incredibly flawed and short sighted, as the biggest asset new couples have to protect is their future earnings potential. A prenup progressively resolves future financial disputes thus benefitting any couple, no matter their income level.
- Prenuptial Agreements are unaffordable as they’re expensive
Nothing in life is guaranteed, and the reality is that that includes even marriages with the strongest and healthiest of starts. A well-drafted prenuptial agreement has the potential to save you a lot more in the future. If your marriage does end in divorce, then the potential litigation fees will far outweigh the cost of being proactive and having a prenuptial agreement made by an attorney experienced Atlanta family law attorney.
- Prenups aren’t really enforceable
Prenups are prepared and executed in concurrence with state and federal law, just like every other contract. While there are times when prenups aren’t enforced in court for specific reasons, such as situations that include one spouse being coerced or threatened while signing, fraudulent misrepresentations or the failure to follow other proper legal procedures, the majority of prenups are enforceable in court.
Having a well drafted prenuptial agreements can provide the foundation for healthy communication and a strong partnership, as it’s much more about paving the way towards open communication rather than distrust and failure. If you are looking to have a prenuptial agreement drafted, know that we at Buckhead Family Law are here to help you and your peace of mind on your big day. If you would like to know more about prenuptial agreements as it relates to your unique facts and circumstances, call us at 404-600-1403.