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Who needs a prenuptial agreement?

| Jan 27, 2021 | Blog, High Asset Divorce |

Couples in Florida who are planning to marry will likely have heard that almost half of the marriages in the United States end in separation or divorce. While this sobering statistic should not put off couples who love one another and plan to spend the rest of their lives together, it should make them at least consider drafting prenuptial agreements. These agreements allow couples to decide for themselves how their property and debts will be divided should they choose to file for divorce, and studies show that they can actually strengthen marriages.

Communication

When couples decide to negotiate the terms of a prenuptial agreement, they should disclose all of their assets and debts and have frank and open conversations about their financial goals and attitudes toward money. When these issues are not resolved, they may give rise to misunderstandings that can cause problems when couples face periods of economic hardship. A prenuptial agreement lets spouses know where they stand, which could give them the confidence to weather financial storms.

Who enters into prenuptial agreements?

Divorcees often ask for prenuptial agreements before remarrying. This may be because they have children from a previous marriage they wish to protect, or it could be because they do not wish to go through property division and spousal support negotiations again. These agreements are also popular among spouses who have ownership positions in businesses. This is sometimes because they wish to safeguard their interests, but it is often because investors or business partners demand some kind of assurance.

Revising prenuptial agreements

When their clients enter into prenuptial agreements, experienced family law attorneys may encourage them to revisit these documents from time to time to ensure that they still reflect their wishes. Turning them into post-marital agreements is an especially prudent step when income disparities have grown over time or one spouse has sacrificed a career to raise children.

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