6 Prenup Myths Debunked (Pt. 1)
Prenuptial agreements – or simply prenups – can be effective ways of defining certain financial rights and/or obligations that partners in a marriage will have and/or that may come into play upon a divorce. Although people may shy away from the notion of prenups, these agreements can provide some very important protections to people who are getting married.
Taking a closer look at the importance of prenups, this blog series will present the facts behind some commonly held prenup myths.
While the info herein is important and helpful, however, contact Scottsdale Divorce Attorney Karen Schoenau when you need the best representation in divorce or for any family law issues.The Truth Behind Common Prenup MythsMyth 1 – I Don’t Have a lot of Assets, so I Don’t Need a Prenup.
FACT – Wrong! While prenups can, of course, be very beneficial for people with substantial assets, they can also be advantageous for those who do not have as much wealth accumulated. This is because, even if you don’t have a significant amount of wealth at the moment, prenups can:
- Get you and your fiancé talking about individual versus shared financial responsibilities for your marriage
- Set up some guidelines in the event you and/or your spouse ends up accumulating some wealth in the future
- Help you and your fiancé avoid having false expectations that could create problems for your marriage in the future (given that financial issues are a primary cause of divorce, this can help you start a marriage off on the right foot).
FACT – Wrong again! Although prenups can have provisions that cover what happens (from a financial perspective) in the event of a divorce, these agreements can also be invaluable even if a divorce never happens.
One reason for this is that prenups can outline certain financial responsibilities for a marriage. Additionally, prenups can end up working as effective estate planning tools (in some cases). In fact, with prenups, people who have children from previous marriages can:
- Specifically designate certain assets to these children
- Prevent a new spouse from trying to cut these children out of a will later.
You can get the facts behind some more common prenup myths in the additional parts of this blog series that will be published soon. Be sure to look for them.Scottsdale Divorce Attorney at the Law Office of Karen A. Schoenau
Do you need help developing a prenuptial or postnuptial agreement? Or is a prenup going to be an issue in your upcoming divorce? If so, you can rely on Scottsdale Divorce Attorney Karen Schoenau for honest answers and experienced help.
To receive professional advice and learn more about how we can help you, schedule an initial consultation with Attorney Karen Schoenau. You can set up this meeting by calling 480-209-1918 or by emailing us using the drop-down contact form at the top of this page.
From her offices based on Scottsdale, Attorney Karen Schoenau represents clients throughout the metropolitan Scottsdale area, including in Scottsdale, Mesa, Surprise, Maricopa County, Pinal County, Gila County and throughout the state of Arizona.