Couples do not usually enter a marriage with the intention of someday divorcing, but statistics indicate that just a little under half of them do. It is that high rate of divorce (and the potential losses that may ensue because of one) that is causing many millennials to take preventative steps. One of the most crucial is the drafting of a prenuptial agreement. Unfortunately, these documents cannot cover every aspect of your marriage, and there is always the risk that one (or all) of the terms will not hold up in court. Learn how to “bulletproof” your prenuptial agreement, and discover how a seasoned family law attorney can assist you with the process.
Starting Your Marriage with Transparency
Honesty and transparency are the cornerstones of a healthy marriage, and a prenuptial agreement can help you incorporate these qualities into your marriage, early on. Of course, you can attempt to hide or inflate your wealth in a prenup, but it is never wise - and not just because it is dishonest or deceptive. By not disclosing any wealth you have, or by intentionally inflating it, you can completely void your prenuptial agreement. As a result, your document may not be honored in court, and you may lose even more of your assets through penalties from the court. Avoid this prenuptial agreement mistake by ensuring you are honest about all the assets you have and expect to earn in the future, and always be transparent with your spouse about losses and gains that occur over the course of your marriage. Also, ensure you avoid any inadvertent mistakes by talking to a lawyer about your assets prior to the creation of your prenup.