A prenuptial agreement is designed to protect both parties in the event of a divorce in the future. However, some prenups are inherently one-sided, especially if they’re designed to protect the spouse with more money or assets. If you’re asked to sign a prenup, here are 5 critical things to notice before you sign.
1. There Are Few Provisions for You
While a prenup protects the assets owned by both spouses entering the marriage, it should also discuss how they will be divided after a divorce. If you review the prenup and find few provisions for you if the marriage ends, this can be a red flag.
2. Your Fiance’s Parents are Controlling the Prenup Process
In some cases, the parents of the wealthier fiance are heavily involved in the process of drafting the prenup. Often, this is because they wish to exclude their child’s spouse from receiving family assets or heirlooms after a divorce.
3. The Prenup Does Not Foster the Marriage (for Either of You)
A prenup should protect assets, but it should not be a stumbling block for either you or your fiance. If the prenup causes strain between you two or does not set the foundation for a successful marriage, think twice about signing.
4. There Aren’t Many Provisions for Your Spouse
Even if you are the wealthier partner, it’s important to consider your spouse’s needs if the marriage ends. Be sure to account for the length of the marriage. Your spouse should be entitled to more if the marriage lasts longer and less if the marriage lasts a few months or years.
5. It Just Doesn’t Feel Right As-Is
If you’re reading through the prenuptial agreement and it just doesn’t feel right as written, don’t feel pressured to sign it. Work with your attorney to find compromises that work for both of you and have the prenup redrafted. In fact, never sign a prenup under pressure or coercion.
Contact Lasley Family Law Today
If you have questions about your prenuptial agreement or need to draft an agreement that works for both you and your spouse, don’t hesitate to call our office at (813) 873-9047.