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Tips for executing a valid prenuptial agreement

On Behalf of | Apr 13, 2017 | Family Law

Although the idea of eloping may seem romantic, there are many aspects of marriage that require careful, long-term planning. For couples that desire spontaneity, yet also want some financial protections, a prenuptial agreement may be the perfect solution.

First and foremost, a prenuptial agreement should not be viewed as a lack of confidence in the marriage. To the contrary, it is a symbol that a couple is getting married for all of the right (non-economic) reasons. And what better way to start a marriage than with open communication about how financial affairs and obligations will be handled.

In the event of a divorce, a valid and enforceable prenuptial agreement may also spare a couple the expense and time of a forensic accounting of the marital estate. Instead of worrying about whether one spouse may be hiding assets, a divorce can proceed according to the terms of the prenuptial agreement.

Certain areas are beyond the scope of a prenuptial agreement, such as child custody obligations under Florida law. Yet there is a great deal that can still be addressed. For example, if a spouse has prior children from a marriage, he or she can set aside separately owned assets for those beneficiaries.

A prenuptial agreement can also address spousal support expectations, in the event of a divorce. For example, one spouse may be reducing or leaving a lucrative job in order to raise children. A prenuptial agreement can proactively set an alimony arrangement for the caregiver spouse, in the event of a divorce requiring a re-entry into the workforce. The alimony could enable that caregiver spouse to brush up on skills and possibly seek out more education, in order to become marketable again.

Finally, a prenuptial agreement can also insulate a family-owned business. In the event of a divorce, the agreement will specify what, if any, claim the other spouse has to the business’ profits and assets. Our Florida law firm has helped many couples in Orlando and surrounding areas craft prenuptial agreements that meet their unique needs.

Source: FindLaw, “What Can and Cannot be Included in Prenuptial Agreements,” copyright 2017, Thomson Reuters