Planning your wedding takes a lot of thought. As you’re deciding on the venue and other important decisions, make sure that you don’t forget about protecting your future. Many people don’t realize that they can benefit from having a prenuptial agreement even if they don’t have considerable assets. Make sure to avoid some common mistakes as you work on your premarital agreement.
One of the best ways that you can ensure that your agreement is enforceable is by making sure that it provides equal protections for both parties. If the agreement overly favors one person, there is a chance that the court won’t accept it as valid.
In order to protect both people, the premarital agreement must be created based on accurate information. You can’t hide assets or debts when you’re establishing a prenuptial agreement. Everything must be laid out so that both people know exactly what’s being set by the agreement.
No prenuptial is valid if it is signed under duress. You must give your betrothed ample time to consider the terms. You can’t hand it to them the morning of the wedding and ask them to sign it before the ceremony. They need to be able to visit their attorney and find out if there are any changes that need to be made.
While many people don’t attempt to put child custody terms into a prenup, you should know that these aren’t ever enforceable. Child custody and support must be determined based on the needs of the children at the time the decisions are being made. Since you can’t know what the future holds, you can’t make these determinations as part of the premarital agreement.
It’s a good idea to work with someone who is familiar with prenuptial agreements, so you can ensure yours is legally valid. Try to do this early in the engagement, so you and your future spouse have time to negotiate the terms if needed.