Prenuptial agreements mainly deal with the non-marital and marital assets a couple owns and how they will be divided in the event the couple gets a divorce. While historically, people may have viewed these contracts as romance killers, that is no longer the case today. More and more people are understanding the benefits these agreements bring to a marriage, and are drafting them before getting married. Below are five reasons you may want to draft a prenuptial agreement before heading down the aisle.
Defining Marital Property
During a divorce, the family court divides the marital property a couple owns according to the state’s equitable distribution laws. Marital property includes any assets or liabilities the couple acquired together during the marriage. However, determining what is considered marital property during divorce often becomes a contentious dispute. A prenuptial agreement will outline which property is marital and therefore, subject to division, preventing any disputes from arising.
Ensure Fair Division
If you have accumulated many assets and marry someone who has considerably less, you risk losing them during divorce. A prenuptial agreement is a document that can protect those assets. A prenuptial may become even more important in this case if you are retired or are considering retiring soon, as your income will be lower in the coming years.
Encourages Important Conversations
There are many important conversations you should have with your betrothed before the wedding. You should talk about what you are bringing into the marriage, both in the way of assets and liabilities such as debts, and how you will deal with finances. A prenuptial agreement opens the door to these discussions so you can both understand the needs of the other person before getting married. The open communication that prenuptial agreements require does not kill romance. Rather the opposite, it can create a sense of trust the couple will take with them for years to come.
Protection for Your Children
If you have children from a previous marriage, the new union could impact them financially, as well. Within a prenuptial agreement, you can define your children’s assets so they do not lose their rights to certain property, regardless of what happens in the future.
Make the Divorce Process Easier
It is true that no one wants to get married while thinking about divorce, but the sad fact remains that some marriages do end. Without a prenuptial agreement, the process can be a complicated and messy one. However, even if you’re already married you can consider a postnuptial agreement which can also make a future divorce process much easier, as everything is already outlined in the agreement and the courts generally uphold them.
Our Orlando or Lakeland Prenuptial & Postnuptial Agreements Lawyer Can Answer All of Your Questions
At O’Mara Law Group, our Orlando prenuptial agreement lawyer and Lakeland family law lawyer can provide the answers you need. We will fully prepare you for the process and create a case that will give you the best chance of a positive outcome. Call us now at 407-634-6604 or fill out our online form to schedule a consultation with our skilled attorney and to obtain the sound legal advice you need.
