A Prenuptial Agreement True/False Quiz
Prenuptial agreements commonly are misunderstood and mischaracterized, thanks in part to popular culture and celebrity divorces.
A prenuptial agreement is an agreement a couple reaches prior to marriage that addresses the ownership of their respective assets should the marriage fail.
Can you separate fact from fiction when it comes to prenuptial agreements? Test your knowledge by taking our true/false quiz.
True/False: Prenuptial agreements are only necessary when one or both spouses are wealthy.
False. This probably is the most common myth about prenuptial agreements. Divorce often isn’t cheap, even if you and your spouse agree on how assets will be divided. Pile stress on top of legal fees, and it can be a brutal process.
Outlining during the good times what would occur in the unfortunate event of a divorce can make the situation easier to work through.
True/False: If you want your future spouse to sign a prenuptial agreement, your marriage is destined to fail.
False. Just consider all the failed marriages where there were no prenuptial agreements in place. What was their excuse? Marriage is a partnership in all senses of the word, and having a real discussion about finances prior to getting hitched can pave the way to learning how to deal respectfully and constructively with each other.
Being hopeful for the best and prepared for the worst simply is a wise approach. Don’t be fearful of being labeled an “unromantic” or accused of already having one foot out the door by broaching the prenuptial agreement subject. It’s a good conversation to have.
True/False: A prenuptial agreement cannot assign child custody or eliminate child support requirements.
True. States will not honor a prenup that limits or denies child support, custody or visitation rights. The welfare of children is considered to be a matter of public policy and not a private agreement.
True/False: Prenuptial agreements only protect the wealthier spouse.
False. The goal of a good prenuptial agreement is to ensure that both spouse’s needs are met in the event of divorce. A one-sided prenup typically won’t be enforced by a court.
The basic requirements for premarital agreements to be enforceable are: signing the agreement must be voluntary, it can’t be unfair when it’s signed, and each party must fully disclose assets and debts, according to DivorceSource.com.
We hope this helps clear up any misunderstandings you have about this beneficial document. You can learn more about prenuptial agreements here. Please call our office today if you have additional questions, or would like to speak to one of our lawyers about signing a prenuptial agreement.