Proven...Not Promised

  1. Home
  2.  | 
  3. Prenuptial Agreements
  4.  | 4 common misconceptions about prenuptial agreements

4 common misconceptions about prenuptial agreements

On Behalf of | Feb 19, 2024 | Prenuptial Agreements

Despite their increasing popularity and practicality, prenuptial agreements or prenups still have misconceptions surrounding them, making couples hesitant about including the document in their financial planning before marriage.

Nonetheless, part of couples’ responsible planning should include knowing these misconceptions and why they are not the case. Some of the common misconceptions about prenups include the following:

Prenups are only for the wealthy

While it is true that individuals with multiple high-value assets are the ones who often use prenuptial agreements, the document can be beneficial for couples of all financial backgrounds. A prenup can help protect future earnings, inheritances and even personal belongings with sentimental value.

Prenups mean couples don’t trust each other

Some people think that preparing for the possibility of a divorce implies a lack of confidence in the marriage. However, prenups can be a pragmatic and proactive solution that acknowledges the uncertainties of the future, which includes the possibility of a divorce or a spouse’s death. Moreover, it provides a clear agreement to prevent potential conflicts.

Prenups are set in stone

While prenups are legally binding, spouses can still modify or revoke them as long as there is consent from both parties. Additionally, courts can render a prenup void and unenforceable if its terms are unfair or if the parties did not meet certain legal requirements when signing the document.

Prenups can cover any issue

Couples are generally free to include their own terms and address various issues in their prenups. The usual inclusions in the document are provisions on property division and spousal support. However, prenups cannot address certain disputes, such as child custody and support, since it will be the courts who will decide on these issues based on the child’s best interests at the time of the divorce.

Seeking guidance toward the reality of prenups

Understanding the truth about prenuptial agreements can help couples approach them as useful tools for financial planning and communication, rather than as negative omens for their relationship’s future. Usually, a knowledgeable prenup attorney can help couples navigate the complexities of the document and draft it correctly.