Pre-nups: it’s a term that instantly creates tons of stress for many couples. While these agreements can be essential to protecting assets in case of a divorce, some couples also feel that it creates an assumption of failure. It can destroy the magic of the moment and has even resulted in some couples not getting married.
The truth is, there’s no need to fear such contracts if you understand their purpose and function. Let’s take a look at some common misconceptions about premarital agreements and post-marital agreements, and how your attorney can guide you through the process.
Myth 1: Premarital Agreements Assume Failure
Perhaps the biggest myth of a premarital agreement is that it’s a contract which assumes your marriage is going to fail. Truthfully, if you’re going into your marriage thinking like this, you are already assuming failure.
Pre-nuptial agreements are a contract to address your life together. They let you hash out big issues in advance, like how you’ll buy and sell property, how you’ll handle kids from previous marriages and other important things that are better to deal with up front.
Myth 2: Pre- and Post-Marital Agreements Show Lack of Trust
There’s no need to assume that because you’ve outlined a contract for life together such as a premarital agreement or post-marital agreement, that you don’t trust one another. A marriage is a business partnership as much as it is a declaration of personal love. People trust their business partners—they have to—but they still establish contracts for the partnership.
You and your spouse may have varying opinions on the details of how you’ll handle certain aspects of your finances, or other details about your married life. Such agreements can help you lay these disagreements out up front so you can deal with them before they become a problem in your relationship.
Myth 3: These Agreements Are Just for the Rich
It doesn’t matter if you’re rich or poor—agreements for your marriage aren’t only about money. They can apply to just about any element of your relationship, from kids to property to paying the bills. There’s also no guarantee that you won’t become wealthy at some point in the future. Lightning can strike anywhere at any time, after all.
This can be why post-marital agreements exist. If your circumstances change after you’re married, you can create such an agreement at any time and it will still carry weight.
Myth 4: They’re Unfair to One Party
Such agreements are not designed to be unfair; in fact, just the opposite. They’re designed to be quite fair all around. However, it’s on the individuals to each ensure their personal rights are protected and addressed.
Your post- or premarital agreement doesn’t even have to cover every aspect of a divorce. No one is prescient, after all. This is why it can be important to work with your Nevada family law attorney for help drafting your agreement. The right lawyer will make sure everyone is protected and that the agreement sees to all the important aspects of the relationship.
If you’d like more information or to start drafting your partnership contract, contact the family law attorneys at Willick Law Group for a consultation today!