It is easy to get caught up in all of the myths that surround prenuptial agreements. Before you make a decision for or against a prenuptial agreement for your marriage, it is important to understand the most common myths told about the legal document. Continue reading to discover the top four myths told about prenups that will allow you to make a more clear-minded decision. If you require assistance drafting a prenuptial agreement or have any further questions regarding the process, reach out to our experienced prenuptial agreement attorney. Contact our firm today to learn more about our services and how we can assist you.
Prenuptial agreements are not needed if you have separate bank accounts
Even if you have deposited your earnings into a separate checking or savings account, both spouse’s income is considered community property without a prenuptial agreement.
Prenuptial agreements are pricey
A prenuptial agreement is far less expensive when you take into consideration the monetary cost and emotional toll a divorce can have without the extra protection of a prenuptial agreement. Instead of considering the cost of achieving this legal document as a money-burner, think of it as a one-time insurance policy taken out on your marriage. Just like you would take out an insurance policy on your car, you would never want your car to be totaled. However, you do the responsible thing and gain the policy because you are considering the worst-case scenario. This is true for a prenuptial agreement as well. Of course, you would never want anything to happen to your marriage. However, drafting a prenuptial agreement is the responsible thing to do to protect yourself, just in case the worst-case scenario was to happen.
Prenuptial agreements are only for rich couples
No matter how much you have in the bank account, prenuptial agreements are for anyone. In fact, most prenuptial agreements call out one or two items, max. You right consider separating your retirement account, a pet, or a house brought into the marriage in the document. Simply due to the divorce rate in our county and the high legal fees for a divorce, it is smart to consider drafting a prenuptial agreement, even if you are not rich.
Prenuptial agreements are not held up in courts
The only circumstances that might lead to a prenuptial agreement being invalided by the court are as follows:
- Only one side was represented by counsel
- There was coercion where one partner was made to feel they were being forced to sign the agreement
- Financial disclosures were not obtained or were fraudulent
As long as you have property drafted your prenuptial agreements with representation on both sides and without duress, your prenuptial agreement should be held up in court. This is especially true if you gained the assistance of an experienced attorney when drafting your prenup. This should avoid any legal complications from arising.
Contact our Firm
Ross and Calandrillo, LLC is a full-service divorce, family, and real estate law firm located in Mountainside, New Jersey. For strong legal representation in all of your divorce or family law matters, contact Ross and Calandrillo, LLC to schedule a consultation.