Each year, thousands of couples get divorced. Even if a divorce is amicably handled, a divorce can have serious financial implications. This might especially be the case if you or your spouse own expensive property and a large amount of money.
A prenuptial agreement protects you and your assets in case of a divorce. It is always a wise idea to sign a prenuptial agreement. Despite its advantages, some couples believe that signing a prenuptial agreement implies that they intend to get divorced or break up at some point in their lives. This is not true. A prenuptial agreement is an effective way to keep your assets safe in case of a divorce. However, a prenuptial agreement may be invalid or can be nullified in certain situations.
The first step is to make sure that there are no flaws and mistakes in the agreement. A contract is deemed invalid and does not hold up in court if it contains a lot of mistakes. It is better to hire an attorney to oversee the drafting of the agreement.
Another common mistake that couples make is that both individuals use the same attorney to represent their interests. Note that one attorney may only be able to fully protect the rights of one individual. If the attorney is protecting the rights of two clients simultaneously, then this may result in a conflict of interest. Another crucial thing is the accuracy of the financial information. All information provided in the prenuptial agreement has to be valid. If any information is inaccurate, this may lead to the contract being nullified.
If you are considering signing a prenuptial agreement with your future spouse, you might want to consider a hiring a skilled family law attorney to overlook the drafting of the agreement. The attorney would make sure the prenuptial agreement is valid and avoid any loopholes that may exist.