When getting married, there are a lot of things to think about. Will you move into your place or theirs? Should you combine bank accounts? Where will you have your wedding, and who will you invite? In addition to the fun things to think about when planning a wedding and a life together, there are some practical considerations – i.e., will you file taxes jointly or separately? Will your employer-sponsored healthcare plan cover your spouse? And should you consider a prenuptial agreement? Getting a prenuptial agreement is often stigmatized as a decision that indicates that you’re “counting on failure.” This isn’t necessarily the case; instead, a premarital agreement or postnuptial agreement is an intelligent way for couples to protect their assets. To learn more, contact our Orlando prenuptial and postnuptial agreements lawyers at the O’Mara Law Group today.
What Is a Prenuptial Agreement?
A prenuptial agreement, or “prenup,” is a legally binding contract entered into by a couple before marriage. This agreement outlines how finances, assets, and debts will be managed during the marriage and what will happen to these assets in the event of a divorce or the death of one spouse. A prenuptial agreement can help clarify each spouse’s expectations and provide financial transparency, ensuring that both parties understand and agree upon the terms of their financial relationship. One of the primary benefits of a prenuptial agreement is its ability to prevent lengthy, expensive legal disputes should a separation or divorce occur in the future. It can provide peace of mind by safeguarding assets, and it is particularly beneficial for individuals with significant premarital wealth, business interests, or children from a previous relationship. Consulting with a knowledgeable prenuptial agreement lawyer, such as those at the O’Mara Law Group, can help ensure that the agreement complies with Florida law and meets the needs of both parties.
What Is a Postnuptial Agreement?
A postnuptial agreement, or “postnup,” is similar to a prenuptial agreement but is created after a couple is married. This agreement can address many of the same financial issues, providing clarity around assets, debts, and financial responsibilities within the marriage or in the event of a divorce or death. Postnuptial agreements are often pursued following significant life changes, such as a new business venture, a change in financial circumstances, or the birth of a child.
Creating a postnuptial agreement can help a couple strengthen their financial understanding and navigate future uncertainties with greater confidence. A postnup can also be beneficial if one spouse has incurred significant debt or has acquired new assets, helping to protect individual financial interests. At the O’Mara Law Group, our experienced attorneys can guide you through drafting a legally sound postnuptial agreement tailored to your circumstances.
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Who Needs a Pre- or Postnuptial Agreement?
Pre- and postnuptial agreements aren’t just for those who are wealthy or “trust fund babies.” Any individual who owns assets they want to protect should consider creating an agreement of this type. These agreements can be crafted to protect against becoming responsible for a spouse’s debt. As such, prenuptial agreements are something that everyone getting married should at least consider. At O’Mara Law Group, we see couples building a stronger foundation with these agreements in place.
What Can Be Included in a Prenuptial Agreement?
Prenuptial agreements can be used to address many different things related to a person’s finances and how finances will be managed throughout the marriage and in the event of a death or divorce. For example, a prenuptial agreement may address:
- Assets that will be protected from division in the event of a divorce or death of one party
- How many debts incurred by either spouse before or during the marriage will be handled
- Who has the right to perform specific financial actions during the marriage, such as buy real estate
- How a business will be divided at the time of a divorce
- Whether or not any assets will be allocated to shared or separate children
Note that prenuptial and postnuptial agreements cannot be used to determine child custody. They also cannot be used to obligate a spouse to do something illegal. Nor can they be unconscionable, which essentially means grossly unfair. For example, a court may find it unconscionable when one spouse gives up their right to all assets in the event of a divorce.
How Are Pre- and Postnuptial Agreements Enforced?
At the time of a separation, divorce, or death of one party, a premarital or postnuptial agreement will be submitted to the court for review. Assuming it is found to be valid with both parties having signed of free will, without duress, and the agreement is not unconscionable–then the agreement will be found enforceable, and the court will issue an order per the terms of the agreement.
How to Get Started with a Qualified Attorney Today
To learn more about pre- and postnuptial agreements and why you may want one, call the qualified Florida divorce lawyers at the O’Mara Law Group today. We have experience drafting pre- and postnuptial agreements and are happy to sit down with you to discuss your needs today.