Considering a prenup? Avoid these seven mistakes and learn about the process with our prenuptial agreement checklist.
Millennials, in an effort to avoid the mistakes of their parents, are going all-in on prenuptial agreements. Over the past few years, we have seen an increase in the demand for prenuptial agreement services thanks to the growing trend of keeping finances—and student debt—separate.
Consider how the Florida courts divide marital property —is an equitable split what you think is fair?
Whether you are getting married for the first time or giving marriage another shot, if you’re engaged, it could be time to begin the process of creating a prenuptial agreement. Prenuptial agreements allow you to be conscious and intentional about what you want in the event that your marriage breaks down. With this agreement in place, you and your spouse can retain control over your money during and after a divorce.
Check out our prenuptial agreement checklist for a list of seven mistakes.
Prenuptial Agreement Checklist: 7 Mistakes to avoid
1. Looking out for self-protection only.
The prenuptial agreement should be drafted to protect both parties. If you are not willing to sign a document that offers fair language to all involved (or negotiate to come to agreeable terms), your future spouse may reconsider whether marriage is a good idea.
2. Letting your feelings control your decisions.
It’s important to pay attention to your feelings when drafting and negotiating a prenuptial agreement. But in some situations, calm rationality is best. Make sure that your actions are dictated by clear motives, not based solely on emotions.
3. Detaching yourself during the process.
One of the purposes of a prenuptial agreement is to create a level of trust and transparency so that if the marriage goes sour, things will be more civil. In order to do this effectively, it’s best to avoid detachment from this process. Don’t just go through the motions—make sure that your voice is heard and that you listen to your future spouse’s needs.
4. Running away from conflict.
You don’t need to agree with everything your partner does, but you’ve got to be able to voice your disagreements. It’s better to fight than run. Make an effort, you’re married!
5. Feeling overly stressed during the negotiations.
This is your prenuptial agreement, not a business deal. Stress is only natural, but if it becomes too difficult to handle, you may want to take a step back. That might be difficult to remember when you are in the middle of negotiations, but it’s worth taking the time to slow down and think carefully about what you are doing.
6. Having unrealistic expectations of what you should get in a prenup.
One way to minimize any resentment during this process is to have realistic expectations of what you should get in a prenup. You can’t expect to get everything you want from negotiations, and if you don’t give a little to get a little, you may not be able to come to any sort of agreement.
7. Not taking your spouse’s considerations into account.
You have to be able to see things from the other person’s perspective. If they are making sacrifices in the marriage—for instance, if they have agreed to leave their career to care for any kids you have together—you should expect that to be included in negotiations. It’s important to recognize what each spouse brings to the marriage, not just the salary they pull in.
Need more help than a prenuptial agreement checklist can offer?
If you are planning to get married and want to weigh all your options, get in touch with me today. Already married? Let’s work on a postnuptial agreement that you and your spouse can both get behind.
About the Author: Helena Y. Farber is a Divorce attorney in Aventura, Florida, whose practice is concentrated in the areas of divorce and family law. She can be reached at (305) 520-9205 or via email at hyf@farberlawpa.com.Disclaimer: The attorney makes this Blog available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site, you understand that there is no attorney-client relationship between you and the Blog. The Blog should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.