Over the years, you may have heard various misconceptions about prenuptial agreements. Though it’s easy to believe many of these myths, before you make a decision regarding whether you should draft a prenuptial agreement, you should have a firm grasp of the facts. Continue reading and speak with a The Woodlands family law attorney to learn more about the top myths about prenuptial agreements.
Common Myths About Prenuptial Agreements
Myth #1: Prenuptial agreements do not hold up in courts
Most prenuptial agreements hold up in court. Some things that may invalidate a prenuptial agreement are:
- Full financial disclosures were not obtained or were fraudulent
- There was coercion or duress, where one partner was made to feel they were being forced to sign the agreement
- The agreement is unconscionable—that is, it treats one of the parties in a grossly unfair and offensive manner
If you have drafted your prenuptial agreement property with representation on both sides and without duress, your agreement will most likely hold up in court. If you fear that your prenuptial agreement may not be considered valid in the eyes of the law you should retain the services of an experienced The Woodlands prenuptial agreement lawyer.
Myth #2: Prenuptial agreements are too expensive
The monetary and emotional toll a divorce can take without a prenuptial agreement in place is far more costly than a lawyer’s fee to produce a prenuptial agreement that can protect your assets from the pitfalls of a divorce. In many ways, a prenuptial agreement is essentially a one-time insurance policy for your marriage.
For example, many people take out insurance policies on items of value, such as their car. Of course, this does not mean they wish for their get to get totaled, but taking out insurance is simply the responsible action to take, in case something were to happen. This is the very same reason that many couples choose to draft up prenuptial agreements.
Myth #3: Prenuptial agreements are only for rich couples
No matter the amount of money you have in the bank, prenuptial agreements are for everyone. Prenuptial agreements are not only used to protect your assets, such as a home acquired prior to marriage; they can also establish future spousal support agreements, discuss who will keep the family pet, and more.
Myth #4: Prenuptial agreements are not needed if you have separate bank accounts
Without a prenuptial agreement, each spouse’s income is considered community property, meaning that the court will divide it in the divorce. This is true even if you have deposited your earnings into a separate account.
If you have any further questions regarding drafting a prenuptial agreement of your own, do not hesitate to contact our firm.
Contact Our The Woodlands, Texas Firm
If you are looking for an expert Montgomery County divorce lawyer, Bolton Law is the right law firm for you. Bolton Law’s legal team handles all family law matters, including divorce, child custody, child support, spousal maintenance, and much more. Contact Bolton Law today to schedule your initial consultation.