Asking for a prenuptial agreement is not a death knell for a marriage. More couples are realizing the value of pre-marriage contracts, especially those who have experienced divorce in their own childhood. You may be among those who acknowledge that marriage is not what it used to be, and even the most committed relationships may falter as time passes.
Still, if you are considering asking your intended to sign a prenuptial agreement, you want to be certain it is right for you. While any couple can benefit from making difficult decisions before they start their marriages, there are some situations in which it may be risky to marry without a prenup in place.
The most common argument against prenuptial agreements is that they anticipate divorce before a couple even marries. A prenup allows you to decide, for example, which assets will remain separate from marital property and how you will fairly divide your joint assets. While this may be a reason why many refuse to consider a premarital agreement, it is precisely the reason why they can be so valuable.
Having these agreements in place can spare you expensive and grievous litigation if your marriage should end. Otherwise, you may be at the mercy of the laws Florida has in place for asset division. With a prenup, you and your partner maintain control of your situation.
Difficult as it may be to approach your partner with the idea of signing a prenuptial agreement, you may have certain factors in your relationship that may make such an agreement even more appropriate, for example:
- Your parents have asked you to use a prenup to keep in the family any inheritance they wish to leave you.
- You are coming into the marriage with significantly more assets than your partner, and you wish to protect those assets, especially if you are nearing retirement.
- Your partner has considerably more debt than you, and you worry about being liable for that debt.
- You have children from a previous relationship, and you wish to protect their rights to your assets.
A prenuptial agreement is critical if you own a business. Divorce can be devastating to a business. In addition to going through the long and expensive process of inventory and valuation, it is common for a divorce to result in the liquidation of a business when the court deems it to be a joint asset. With a solid prenuptial agreement and careful adherence to its terms, you can protect your business and other properties from asset division.