Prenuptial Agreements are steadily gaining traction in today’s marital landscape. Far from being merely legal formalities, these agreements serve as well-thought-out financial blueprints for the journey ahead, especially should the path lead to a divorce. While the idea of discussing a prenup may initially seem unromantic, it’s a prudent step towards fostering open communication about the financial aspects of marriage, which is often a pivotal facet of a lasting union. This post uncovers common missteps to avoid when working on Prenuptial Agreements, ensuring a well-rounded understanding and a sound financial plan for both partners as they step into the realm of marital commitments.

Mistakes to Avoid

Given the increase in the divorce rate, such agreements are not as unromantic as they once were. They involve both parties communicating honestly about their future. That may sound easy, but here are some mistakes to avoid:

1. Many couples avoid the subject. It is far more fun and much easier to discuss a future home and family than what might happen in the long term. But the future and finances can turn into a bitter reality. Communication is critical here for both parties to protect and spell out their financial interests and expectations.
2. The prenuptial should be fair to everyone involved. While both parties may agree to draft such a document, they may hire one attorney to represent both of them. That can turn into a costly future mistake. Both should have his or her separate legal representation.
3. Creating a prenup can be an emotional experience. If there are issues on which you are unable to agree, a premarital counselor can help separate feelings from facts. 
4. A couple may feel uncomfortable enough with the subject of a prenuptial that they will agree to anything in order to end what can be an unpleasant conversation. That, too, can turn into future financial problems. If you are unable to communicate honestly now, when will you?
5. The prenup can remain a touchy issue, even after it is signed. The best thing is to lock it in a drawer (scan a copy also!) and focus on your impending wedding and a glorious future together. Think of the prenup as insurance. When you buy theft insurance, you put it away and don’t think about thievery, do you? You enjoy the things you have, instead. That is the best approach to a prenup. Have it and forget it.

A prenuptial is a Legal Contract

As a legal document, a prenup requires the use concise language. Should it ever need to be enforced, the parties wouldn’t want to risk misinterpretation of their original intent. Florida courts won’t enforce a document with unclear and ambiguous wording. 

The same courts will also not enforce a prenup if a signature has been coerced. A court considers coercion to include faulty disclosure of assets and liabilities, such as a hidden, undisclosed bank account. Forcing a partner to sign under duress (such as the evening before the wedding) is also cause for having the prenup tossed, as is an agreement that clearly favors one party over the other. 

That is why having legal representation is critical. An attorney can also advise on what should be included and want should be omitted. For example, child custody and child support issues are not part of a prenuptial agreement. Another provision that a Florida, or any other kind of court, will refuse to enforce is an agreement that attempts to require a party to do anything illegal.

Finally, the document must be signed by both parties to be enforceable. Never forget that this is a legal contract.

Conclusion:

While a prenuptial agreement protects the wealth of the partner with the most assets, it actually serves to protect the financial future of both parties. However, like all legal contracts, it should not be entered into without advice from an experienced attorney.

The legal process can get difficult, which is why we always recommend that you seek the assistance of counsel; or at least have a consultation. Schedule a consultation with our team today to review the issues of your case, the legal options you may have, and certain rights that pertain to your unique situation.

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