High net worth people in Connecticut who are planning on getting married should be open to the possibility of a prenup. That’s particularly true for women who have amassed an impressive estate for themselves. While the idea of a prenup may seem unromantic, it’s a way to protect your assets. Negotiating a prenup will also force you and your partner to have some uncomfortable but necessary conversations about finances. However, understand that there are some common prenup mistakes you must avoid.
Write a prenup that will hold up
Prenuptial agreements are contracts, and they have to meet specific standards to stand up in court. For one thing, a prenup must show consideration for both parties. That means that being overly stingy in a prenup can backfire. Writing an agreement that’s fair to both the earner and non-earner is critical.
Along the same lines, don’t put undue pressure on someone to sign. Forcing someone to sign a contract under duress can invalidate that contract. It’s a bad idea to present someone with a prenup right before the wedding. Instead, proper negotiating can ensure that the prenup stands up later on. Experts say that six months before the wedding is a typical timeframe.
Finally, an attorney should represent each party. When people write prenups without attorneys, they may leave essential things out or include unenforceable items. In general, courts are reluctant to enforce prenups that haven’t been written and reviewed by qualified attorneys.
Writing a prenup while you’re in love and eager to help each other is a great way to ensure that everyone is taken care of if the marriage breaks up. However, if the document is incorrectly written or reviewed, it won’t hold up in court. The approach you take to your prenup is essential.