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Three Important Reasons To Consider A Prenuptial Agreement

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If you got engaged over the holidays, the new year will likely be filled with arranging dates and making wedding plans. Amidst all the fun and planning, it is important not to neglect practical considerations, which include talking frankly about financial matters. Developing a prenuptial agreement provides a perfect framework for these discussions. While you or your partner may be reluctant to even acknowledge the potential for a time when the two of you are not together, taking the time to have this talk now could protect you and those you care about in the future.

Florida Law On Prenuptial Agreements

Guidelines and requirements for a prenuptial agreement can be found under Section 61.079 of the Florida Statutes. As a legal contract, these documents outline the rights and obligations of prospective spouses upon marriage, in particular in regards to personal property, real estate, income and business profits, legal rights, and vested interest in both tangible and non-tangible objects. Items which may be included in a prenuptial agreement include:

  • Details on the rights and obligations of each concerning the property of the other;
  • How property will be divided in the event of a separation or divorce;
  • Instructions for the making of wills and trusts;
  • Details on inheritance rights upon death and disbursement of life insurance benefits.

While a prenup may include a waiver of the right to claim alimony or spousal support in the event of divorce, they may not include waivers of child support or custody for any children born of the marriage.

Why Couples Should Consider A Prenuptial Agreement

Choosing to have a prenuptial agreement does not in any way reflect on your feelings for one another, nor is it any sort of prediction for marital success. It does, however, provide a way for you and your prospective partner to have an honest and open discussion about the individual assets you are bringing into the marriage, the roles each of you will play in your finances, and the obligations you both feel towards others, such as family members or business partners.

Regardless of your current financial picture, Bankrate advises looking ahead to any future property and assets you may accumulate, and lists the following as three important reasons for all couples to consider a prenuptial agreement:

  1. To Protect Children from A Previous Marriage: If you have children from another relationship, a prenuptial agreement provides a way to protect their financial interests in your estate.
  2. To Protect Family Assets: If you have an inheritance or trust from a relative or anticipate inheriting in the future, a prenup can protect your interests while ensuring property and assets remain in the family.
  3. To Protect Your Business: Whether you are a sole proprietor or have a business partnership, you can use a prenuptial agreement to set terms for your spouse’s involvement in your business operations, while establishing any potential interest in it they might be entitled to in the future.

Reach Out to Our Office for Help with Your Case

If you are engaged and wondering whether a prenuptial agreement is right for you, contact the Vanessa L. Prieto Law Offices, LLC. Our experienced Florida family law attorney can guide you through the process, answering your questions while helping to ensure your interests are protected.

Resources:

bankrate.com/finance/personal-finance/engaged-couples-sign-prenup-1.aspx

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.079.html