Whatever involves the court, when signed, is binding on the partners involved. Agreeing to sign a prenuptial contract should be done at will so that you can be accountable.
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The consequence of breaching the content of your agreement is that your contract remains invalid. This article exposes common mistakes to avoid when signing a prenuptial agreement.
What Is The Content Of A Prenuptial Agreement?
A prenuptial contract stipulates how assets and finance will be owned and managed between partners in the event of a divorce.
This agreement also covers a case of abandonment or the death of one spouse.
Mistakes To Avoid When Entering A Prenuptial Agreement
- Failing to Communicate The Issue of A Prenup To Your Partner Early.
A prenuptial agreement can be complex and overwhelming owing to its demands. It is wise to raise the idea of signing a prenuptial agreement early enough.
Bringing such an issue a week before your wedding is a bad idea, you wouldn’t want to lose your relationship because of this.
Communicate your idea on time, and give an ample opportunity to rethink every decision.
- Signing the Contract Under Pressure
If a prenuptial agreement is signed under duress, it becomes null and void under the law. A prenuptial agreement is not mandatory, don’t force yourself or your partner into it.
If your partner is uncomfortable with the content of your agreement, you may consider taking them out or forfeiting the contract.
- Failure To Disclose Relevant Information
One main content of a prenuptial agreement is individual assets, liabilities, and obligations. Before signing a prenup, you must be ready to disclose all assets in your name, accrued debts, and your responsibility in case of a divorce.
Without disclosing the relevant information, your contract will be unenforceable in the long run.
- Failing To Hire Your Lawyer
Both partners should have an individual lawyer while signing an agreement. This is to help guide you while making any obligations. Your lawyer would give suggestions for your interest.
If one lawyer is hired by one partner, the contract may favor one person. Beyond that, your lawyers will communicate the implication of every clause in the contract.
- Making Emotional Judgment
While signing the contract, there is a likely chance you would make decisions out of love or pity. Making such a judgment may be fatal in the future.
For instance, giving all your assets to your partner in the case of divorce out of pity is an emotional judgment. This is why you need a lawyer when signing the contract.
- Using Ambiguous Words
Every clause in a legal agreement is binding on the partners. Hence, using ambiguous words is not advised. Your partner may decide to challenge any vague statement in court, which may nullify your agreement.
While signing a prenuptial agreement, having an attorney as a guide will help curtail any mistake in the agreement.
Additionally, signing a prenuptial agreement is not mandatory by law, it should be done after the mutual agreement of both partners.