A prenuptial agreement is a contract signed before marriage and primarily allows you and your spouse to control the distribution of assets in the event of a divorce or death. Many couples choose prenups because of the several benefits, such as future financial security, avoiding litigation after divorces, and protection from debts.
If you plan to make a prenuptial agreement with your spouse, it is in your best interest to consult an experienced family lawyer in Ridgeland. They assess your situation and enable you to draft an agreement with fair terms. Their advice prevents you from making mistakes during the complicated legal process.
These are some mistakes that couples commonly make.
- Not consulting your own lawyer.
Each party must consult their lawyer and obtain independent legal advice to understand every term in-depth. Prenups will have long-term consequences, and each party must be aware of those consequences before signing the agreement. Lawyers carefully analyze your situation, determine whether the terms stated are mutually beneficial, and ensure that they will not risk your future security.
- Failing to complete the legal requirements.
A prenup is a legal contract, and both parties are obliged to follow the set requirements to ensure that it is not declared invalid in court. Suppose either party engages in fraudulent acts such as not disclosing the complete list of their assets, filing the paperwork incorrectly, or signing the contract without legal representation. In that case, the agreement will not be enforceable in court. A lawyer ensures that your contract fulfills all the legal obligations.
- Provision for child support and child custody.
There is a specific criterion regarding the terms you can include in a prenup which mainly addresses the state of your future finances and division of assets. Any prenuptial agreement will not be allowed to include provisions to decide the amount and duration of child support or the party that is awarded child custody, or decisions related to personal issues such as chores. Your lawyer enables you to understand the terms that cannot be included in the prenup.
Prenuptial agreements can have a significant impact on your future. The presence of a qualified and skillful lawyer in Ridgeland can make the legal procedure simpler and easier for you. They help you avoid such mistakes that can result in your contract being declared invalid. They ensure that you make the right decisions to protect your financial security in the future.