Do you think a prenuptial agreement means you and your significant other won’t live happily ever after?
I’m sure we all know the reputation that prenuptial agreements have gotten over the years. They are unromantic. The party wanting a prenup doesn’t really want to get married. Prenuptial agreements are made only with the anticipation that the marriage will end in divorce. Prenups are only for the wealthy. In actuality, all couples could benefit from the upfront negotiation of important financial matters that may be encountered within a marriage. A prenuptial agreement doesn’t mean you don’t expect to live happily ever after.
Although premarital assets can be a factor in decisions to draft a prenup, you don’t have to be a hedge fund mogul or Hollywood star to need one. They work for everyday people in a variety of everyday common situations. Is there a family business that could be inherited one day? Don’t you want to discuss what your plans would be for the business, to ensure that your vision is carried out? Do you own real property? What about premarital debt? Are you a financial saver and your soon-to-be-spouse a spender? Do you already have children prior to this marriage? Is it possible you may decide to stop working to take care of the children? Would you agree on how the children are raised religiously? A prenuptial agreement can also protect your wishes for your estate, inheritance, or family heirlooms. This is not an exhaustive list, but it is a good start.
Does Florida really have your back?
The state of Florida has prepared a prenup for you in Chapter 61 of the state’s statutes. This makes Florida a no-fault, equitable distribution divorce state. This means that all marital assets will be equitably divided. This doesn’t mean fairly divided. The court reserves the right to take various factors into account in the distribution of assets and liabilities, but this is not a one-size-fits-all law. It is not the best option for every marriage. Many marriages encounter situations, non-divorce related, that could have been addressed by a prenuptial agreement. In a perfect world, you and your partner will agree on every decision within the marriage.
It’s a hard subject to bring up on the way to the altar… your prospective spouse may interpret it as a hedge against your pending devotion and unconditional love………..so it’s best to bring it up while cooler heads prevail, long before the wedding day! But one way or another, do get that prenup prepped and signed!
For your individual situation, we at Boyer Law Firm stand ready to analyze your circumstances and customize an agreement tailored to your needs.