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More and more people write prenuptial agreements every year, realizing that these documents will protect them in the event that the marriage ends. However, there is a lot that goes into a premarital agreement and if you make a mistake, it may not offer the protection you were counting on. Below are the most common mistakes people make when drafting a prenup, and how to avoid them.
You may feel as though talking about a prenuptial agreement is not romantic, but the truth is that a conversation can make both you and your partner feel more secure in the marriage. People fail to talk about their financial situation prior to their wedding far too often. When creating a prenuptial agreement, you must be fully open and honest with each other, which can eliminate arguments about finances that lead to divorce in the future.
Bringing up the subject of a prenuptial agreement does not have to be uncomfortable. Have the discussion as early as possible and emphasize that the agreement will protect both of you in the future, and prevent a lot of headaches, if necessary.
Although you and your betrothed will do a lot of things together in the future, using the same lawyer while drafting your premarital agreement should not be one of them. You and your partner will both have separate interests you will want to be included in the premarital agreement. Even if you are not thinking about divorce now, in the event that it does happen, you want to ensure those interests are protected. Lawyers always work in the best interests of their clients, but that is impossible when they are representing parties on each side. You and your partner must get your own lawyer.
There is a chance that your premarital agreement may include provisions for marital money matters. However, these documents primarily outline what will happen in the event of a divorce, and how assets will be distributed. Due to the fact that they do not contain a lot about your marriage, there is no reason to think about it constantly. Make sure you work with a lawyer that gives you confidence that the agreement protects you. Then, once it is finalized, put it away in a safe place, stop thinking about it, and start looking forward to your marriage.
Getting married is an exciting time, but it is a legal relationship and requires legal documents. For many couples, that includes a prenup. If you are about to get married and want to draft a premarital agreement, our skilled Hinsdale family lawyers are here to help. At the Law Office of Martoccio & Martoccio, we understand how to draft these agreements properly, ensure they will be enforced by the courts, and can help you avoid the most common mistakes made along the way. Call us today at 630-920-8855 or contact us online to schedule a free consultation with one of our knowledgeable attorneys.