When you are engaged to be married, you feel like you’re on top of the world. While these feelings are great, there are many things that will need to be addressed, including marriage contracts. You should consult a professional family lawyer for advice. When it comes to marriage contracts in particular, here are a few myths you should know.
1. Marriage Contracts Are Only for the Rich and Famous
Chances are you’ve read about many celebrity marriage contracts in the tabloids. With all that you’ve seen and read, it’s easy to assume that marriage contracts are only for the wealthy. This will prevent issues when it comes to dividing financial assets. The fact is millions of people sign prenuptial agreements and marriage contracts every year. However, the process has little or nothing to do with being wealthy.
So the big question is why do people sign a marriage contract? To protect their financial interest and ease the stress and cost associated with divorce. Hence, it is always a good idea to speak with a family lawyer about a marriage contract to protect the assets you’ve brought into the marriage.
2. Marriage Contracts Are Unromantic
Everyone hopes to spend the rest of their lives with their partner, especially after tying the knots. For this reason, signing a marriage contract might feel unromantic. A marriage contract does more than just protect your financial interest in the event of a separation, however. You can use it to bond with your partner. This contract can help build a successful foundation for your marriage.
3. Courts Don’t Recognize Marriage Contracts
If you have a poorly written marriage contract or perhaps neither party agrees to what’s written in the contract, then sure, the court may not recognize the contract when faced with a divorce. This is why it is important that you hire a professional family lawyer with many years of experience in the field to help you prepare a marriage contract the right way. Also, your family lawyer will tell you clauses that are most important if you and your partner have to settle your divorce case in the court. If you would like to learn more, the Matrimonial Home website is a great reference for additional information and resources.
4. Skipping the Lawyer Saves on Costs
A marriage contract can be prepared even without hiring a family lawyer. However, if you want to ensure that it’s binding when it counts most, you need to hire a competent lawyer. More so, getting qualified legal advice prior to signing a marriage contract will be beneficial. In a bid to save on costs, some couples decide to hire only one lawyer to help with the process. However, getting legal advice from one lawyer may not go well since there’s an inherent conflict of interest in advising both partners.
One way to save money is for the couple to do plenty of research prior to scheduling a meeting with the lawyers. So while many people think hiring a lawyer is needless, the reality is that they offer great legal advice that counts.
As you’ve seen, there are various myths about marriage contracts. Remember, do not act based on what you hear; do a bit of research instead.