Prenuptial Agreements – Myths
Here are some common myths surrounding Pre-Nuptial Agreements.
#1 Only Men Want Pre-Nups.
Not true. In today’s economy, many women earn as much or more than their male counterparts. She may have accumulated real property and substantial monetary assets before marrying. Additionally, it will protect the woman if she is agreeing to stay home and raise a family while the husband works and continues up his corporate ladder.
#2 Pre-Nups Only Help if We Divorce
Not true. While there are provisions contained in the Agreement speaking to divorce, there are also provisions which address the issue of death. They can mirror your estate planning documents such as your Revocable Trust or Will concerning the distribution of your estate upon your death. If you have children from a prior marriage, you may want to provide for them upon your death as opposed to leaving all of your wealth to your new spouse.
#3 Pre-Nups are Too Expensive.
Again, not True. While they are costly, it is another expense of the wedding process (which itself is not inexpensive). The bigger issue is that the money that you and your estate may save by having a well thought out pre-nuptial agreement would greatly outweigh the money spent in developing one.