Prenuptial (premarital) agreements have become a tool that spouses and couples are increasingly using to shore up the finances and even up the post-marital distribution of assets to avoid any kind of issues after separation. Despite the emerging presence of prenuptial agreements, there continue to be a number of myths about prenuptial agreements. Here is a list of some of these myths:
Prenups are just for wealthy people
That perception is based on the past. People believe that premarital agreements are for the wealthy couples. In reality that is not the case. Prenups are for anyone that has the slightest bit of confidence in their abilities and knows that they’ll reach a nice financial position in live. While you may not be rich, you’ll want to have successful marriage. Prenuptial agreements clearly lay down the financial status of the spouses leaving little to imagination and allowing for a open and honest relation.
Prenups favor the rich spouse more than the poor one
Once again this is a perception rooted in the past. Today, prenuptial agreements only exist when they are fair to both spouses and if they protect the interests of both. Unfair prenups that take the side of one party and unduly miserly on the other spouse will not hold any legal authority. Prenuptial agreements are used as a clear cut division of assets predetermined in the event of a divorce instead of a tool to save your assets and monetary belongings.
Prenups need to be extensive, detailed and should have all the details in the world
The fact of the matter is, that is not the case at all. Prenuptial agreements are designed to determine the post Orange County divorce status of some, many or all aspects of finances, etc. It is actually dependent on the two spouses making the agreement to determine what it would cover and what it shouldn’t. A prenuptial agreement needs not be extensive it can include even a few things.
Prenups are unromantic and can ruin a marriage
Knowing something is better than living in its ignorance. There are some people that believe a prenuptial agreement which is effectively a part of the planning for a divorce. This in reality is not the case; prenuptial agreements are not made simply in anticipation of a divorce. If anything they are created to make sure the two spouses are clear on the financial issues and avoid any bitterness in case they go through a divorce.
Gerald A. Maggio is a trained Orange County divorce mediator who has amicably resolved cases many cases out of court, as well as an experienced divorce and family law attorney. Mr. Maggio founded California Divorce Mediators in 2012 with the belief that although “not every marriage can be saved, every family can” and a mission to save families from the financial and emotional distress associated with traditional divorce litigation. California Divorce Mediators is located in Irvine, California, and serves the Orange County area and other counties in California offering divorce mediation, child custody mediation and mediation of other family law matters.