A prenup may improve your marriage

On Behalf of | Oct 15, 2018 | Prenuptial Agreements

Most surveys about the causes of marriage breakups list money disputes and a lack of communication as two main factors that lead to divorce. If you are preparing to get married, you certainly want to avoid those issues as much as possible to give your marriage the highest chances of long-term success.

A growing number of Florida couples are finding that prenuptial agreements can benefit them with both their finances and their communication skills. You may agree that you would rather face these difficult issues while you are full of hope and love toward each other than later when you may feel resentful.

Don’t place limits on your prenup

For many people, the idea of signing a prenuptial agreement means conceding that the marriage could end before it even begins. While a prenuptial contract can certainly specify how you will divide your joint assets if you should divorce, there are many other benefits to creating such an agreement, including the following:

  • Keeping specific assets separate, such as a business or an anticipated inheritance
  • Providing for children you may have from a previous relationship
  • Separating your debts during the marriage or in case of divorce
  • Agreeing on alimony if you should split
  • Creating a trust to distribute the assets of the spouse who dies first
  • Agreeing on how you will save and spend your earnings throughout your marriage

In fact, your prenuptial agreement can be as specific as you want. Perhaps you want to contract with your spouse that you will avoid using credit cards or that you will help repay your spouse’s student loans in exchange for some other consideration. Prenuptial agreements are versatile instruments, and you can even change or revoke yours at any time.

After the wedding

If you do not have time to create a prenuptial agreement, you may consider a postnuptial agreement, which you can draft at any time after the wedding. This may have the same elements as a prenup, but many postnuptial agreements also address issues that have arisen between the couple. For example, if one spouse has been unfaithful, a postnuptial agreement can outline the consequences, financial and otherwise, of any subsequent infidelity.

If a marriage should last a lifetime, the marriage agreement may have done its part in building a system of trust and openness between the spouses. If the marriage ends in divorce, the couple may find their breakup occurs smoothly and privately because they met with an attorney and signed a well-drafted marital contract.