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Avoid these mistakes when creating your prenuptial agreement

A couple of months ago, we wrote a post about prenuptial agreements and business. A business is something that anyone would want to protect and properly classify when they are getting married, because should a divorce happen down the line, the business would be an obvious and critical asset during divorce proceedings.

Prenups aren't just for people with businesses though, nor are they only for the wealthy. Sure, it may be more beneficial for a business owner or a wealthy person to have a prenup considering they have more to protect. But a prenuptial agreement can help anyone looking to protect the assets and property that they have, just as it can be helpful for establishing the rules and provisions that would make up your potential divorce.

So if your prenup is activated, you would really want that contract to be as close to impervious to a legal challenge as possible. That's why you need to avoid certain mistakes that could leave your prenup vulnerable:

  • Make sure it is an actual written contract (you'd be surprised...) with proper provisions and language.
  • Make sure that both you and your spouse have enough time to fully consider the prenup, the ramifications of the provisions in the prenup, and the effect signing the prenup will have.
  • The information you provide in the prenup must be truthful and accurate. False information, fraud and inaccurate information will likely lead to the prenup being invalidated.
  • Last but not least, make sure the contract is relatively fair, otherwise it may be deemed "unconscionable" by a judge.

Source: FindLaw, "Top 10 Reasons a Premarital Agreement May be Invalid," Accessed June 1, 2016

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