Prenuptial agreements are beneficial for every couple. Contrary to popular belief, they are not only for the rich and famous. Whether you are a blue-collar worker or a multimillionaire, it is a good idea to sign a prenup before your marriage.
Not every prenup is bulletproof, however. If you do not properly write up a contract, it may be thrown out during a future divorce. Here is how to create a prenup that will stand up in court.
1. Act quickly
The sooner you sign a prenup, the better. While you may not want to bring out the papers and attorneys immediately after your proposal, you should certainly do it before much of the wedding planning gets underway. It should be one of the first steps you take after your engagement. If you wait until you send out your wedding invitations and hire the photographer, it is more likely for there to be some coercion or duress.
2. Be honest
Starting your marriage with honesty is one of the best things you can do. It is best to keep no secrets and be as transparent as possible. As you sign a prenup, make sure you are honest with how much wealth you have and what inheritance you may be getting down the road. Do not try to hide assets or else your prenup may be invalid.
3. Be sensible
Your prenup should only address certain issues. While your prenup may address how you will manage money as a couple or how assets will be split in a divorce, it cannot determine other issues, such as child custody. If you try to include absurd or unlawful clauses in your prenup, you run the risk of a judge throwing it out later.
Believe it or not, signing a prenup may be one of the best things you do for your marriage. Follow these guidelines to ensure it is a bulletproof document.