Prenup Myths You Should Know About

For the most part, the last thing on your mind when you’re getting married is a prenuptial agreement. People see it as a means of who gets what in the case of divorce, so why would you want to even think about getting it when you’re marrying the love of your life? There’re many myths surrounding prenuptial agreements, so let’s address a few today. 

They’re Necessary When Getting Married 

Prenups aren’t necessary in getting married, so if you’re both against having one then don’t worry about it. Although this may be true though, it’s still a good idea to get one. While you’re probably not thinking about getting a divorce when you’re getting married, half of married couples in the U.S. end up getting a divorce. While statistics are sometimes misleading, it’s still a great idea to have one in the case that you and your partner do get a divorce. 

 A Prenup Means Lack of Trust 

Having a prenup does not mean that either side of the relationship has a lack of trust. If you or your partner feels strongly about having a prenup, it simply means that being protected in the case of a divorce is important. It doesn’t mean that either of you is planning for a divorce, it just means that if it were to happen both of you will be equally protected and entitled to certain things. 

In fact, a prenuptial agreement may inspire more trust within a relationship. Both people in the relationship are coming forth about the things that they own, their debts, and even their beliefs on how things should be working in their marriage. Most of the time, a prenup will have things split both ways or have both people keep what they originally owned.Similar to a business agreement, you are both agreeing on the future as equals. 

Prenups are Only for the Wealthy 

Many people tend to think that a prenup is only necessary or meant for people who are wealthy. This is in fact not true at all. Anyone can get a prenup for their marriage, no matter how much money they make and what they own. A prenup does in fact deal with financial issues, but it doesn’t mean that only rich people need them and can benefit from them. All couples can have a prenuptial agreement, not just wealthy ones. 

Getting a Prenup Means a Divorce is Guaranteed 

A lot of people believe that having a prenuptial agreement means that they’re going to get divorced or it’s sort of bad luck for their marriage. People think it’s basically setting it in stone that they’re going to get divorced from their partner, but in fact it can actually be strengthening and beneficial to both people in the relationship. But of all the couples divorced in the world, how many do you think had prenup arrangements? A prenuptial agreement allows that the couple can both speak to each other meaningfully about what will happen to their finances, their possessions, children, etc., if they do happen to get divorced. In the case that a divorce does happen, you’ll both be thankful that you worked all of this out with your partner prior. 

You can Decide to Get a Prenup After Marriage 

While it is true that you can get an equivalent to a prenup after marriage, if there's any disagreement from any side, the process becomes a lot more difficult. This is why it’s best to decide before you get married if you want to have a prenuptial agreement. Once you’re married, if you don’t have a prenup then everything that you and your couple acquire such as money and assets is considered marital property. That means that if you wait years before deciding to get postnuptial agreement, everything in those years will be marital property and the overall process is more complicated. 

Prenups are All About the Money 

You might have noticed throughout this article that prenups are more than just money, but many couples fail to realize this. A lot of people tend to think that prenups are just about who gets what amount of money, but this is far from the truth. While money is involved in a prenuptial agreement, deciding how assets will be divided, there are many other things that can be included. Spousal support, credit card debt, child-related expenses, and responsibilities of caring for dependents such as elderly parents or children with disabilities can be included in a prenup. Not going over the bigger picture is why some people fail to realize the importance of prenups, because they think it’s just about money and nothing else. 

They’re Expensive 

Prenups are in fact not expensive at all. Compared to the potential costs and time for completing a divorce, it is in fact significantly less time to acquire an attorney to help prepare a prenuptial agreement for you. So actually, having a prenup will almost guarantee to lower the cost and time of getting a divorce all together. In the case that a divorce does happen between you and your partner, you’ll already have all the assets and money divided amongst both of you. You won’t have to go through the extensive stressing time period of deciding who gets what and how much they get. 

While it’s clear why some people may think getting a prenup isn’t a good idea while just wanting to focus on getting married, it’s something important that everyone should at least consider be. Prenuptial agreements can help save a lot of trouble in the case of a divorce, and even though majority of couples won’t want to think about divorce when they get married, it’s still a great idea to have a prenup.