Are you looking to sign a prenuptial agreement? If so, you are not alone. Many couples these days are looking to protect their financial interests in marriage. Talking about finances with your fiance may be challenging, but it is a beneficial endeavor if you ever get a divorce in the future.
However, you must make sure you write and sign your prenup correctly, or else it may be invalid. Here are some common prenup mistakes you should avoid when you execute your agreement.
1. There is coercion or duress
Both of you must be of sound mind when drafting and signing your prenup. Neither of you should try to force the other one to include certain provisions. Similarly, make sure no one is drunk, under the influence of drugs or seriously ill when signing the prenup. Additionally, to be safe, you should sign the prenup at least a month before your wedding date to prove that both of you have time to consider the provisions.
2. You include a child support provision
You may want to dictate every detail of financial obligations, but there are limitations. For example, Jeff Landers writing for Forbes states that one costly prenup mistake is writing a provision about child support. Do not try to write a provision that says no one will pay child support after a divorce. If you include such a provision, it is possible that a court will throw out your whole document.
3. You do not have legal representation
A prenup is a legal contract. Therefore, you and your spouse must have legal counsel during the process to ensure everything is enforceable. If you forego consulting with an attorney, you may find out that your prenup is invalid in the event of a divorce.
Make sure you are diligent in avoiding these common prenup pitfalls. Signing a prenup is a huge decision, so make sure you do it right.