Common Premarital Agreement Myths, Busted

Premarital agreements are becoming more common today than they once were among people about to be married. Although these documents are very beneficial for people planning to wed, there are also a number of myths circulating about them. These misconceptions often keep people from drafting one, which puts their rights at risk. If you are thinking about getting married, it is important to understand these myths and the truth behind them so they do not stop you from getting the protection you may one day need.

They are Only for the Wealthy 

It is true that at one time, it was mostly people who had significant wealth or assets to protect that drafted a premarital agreement. Today, though, this is no longer the case. People are marrying later these days than their parents and grandparents did. By the time many people are ready to tie the knot, they have already established careers and amassed a substantial amount of property. Premarital agreements can protect this property, which is one of the biggest reasons these contracts are becoming more popular among millennials.

They Kill the Romance 

Planning a wedding is very exciting, and it is natural to think that talking about divorce kills the romance. In fact, a premarital agreement can actually bring the two of you closer even before the wedding. You and your spouse will have to provide full financial disclosure when drafting a premarital agreement. You must talk about your assets, property, debts, inheritances, and other important details of your financial life. Although having these discussions may not seem romantic, learning even more about each other can provide a stronger foundation for the marriage.

You Can Include Anything You Want 

Premarital agreements are mainly financial documents. They determine how marital property will be divided during divorce, can protect separate property, and even include alimony provisions for a spouse who may need financial support in the event of divorce. While there are many things you can include in your premarital agreement, there are some terms you should never include. Child support and child custody issues cannot be addressed in these documents. Only the courts can make decisions regarding children, and they will do so according to what is in a child’s best interests.

They are Always Enforced 

Simply drafting a premarital agreement does not mean it will be enforced. A court may deem an agreement unenforceable for many reasons. For example, if the contract is grossly unfair to one party, or one person was coerced into signing it, a court will void it. It is for this reason it is critical to always work with a lawyer who can draft your agreement and make sure the courts will enforce it.

Our Prenuptial Agreements Lawyer in Orlando Can Help with Your Case 

A premarital agreement can greatly protect your interests but when drafting one, you need sound legal advice. At Anderson & Ferrin, P.A., our Orlando prenuptial agreements lawyer can provide it and draft a contract the courts will enforce and that provides the protection you need. Call us now at 407-412-7041 or contact us online for a free consultation and to learn more about how we can help.

Sources:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/0061.html

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.079.html