Planning your wedding may be one of the most overwhelming and time-consuming tasks you ever take on. From finding the perfect venue to curating the guest list, it may seem like the process never ends. Florida couples usually realize the work is well worth it when their day goes off without a hitch.
Despite picture perfect days, most people miss out on an incredibly value pre-marital planning tool — a prenuptial agreement. Often unfairly vilified in popular media, prenups can be essential for not only protecting each person’s interests, but also for creating the opportunity for open dialogue.
Prenuptial agreements protect your finances
No matter how close you and your future spouse might be, you likely both own property that you would prefer to keep to yourselves. Whether you have an extensive stock portfolio or your significant other collects vintage computer parts, you can clarify exactly how you will handle these items in a divorce.
Some couples choose to forgo prenups on the basis that their property was separate before marriage, so they assume it will automatically remain with them during a divorce. While this might sometimes be the case, commingling of certain assets can leave the question of ownership up in the air. Since most couples choose to combine most of their property after saying “I do,” a clearly worded prenup can ensure that each person’s separate property remains with them should they divorce.
A prenup can improve your communication
Most individuals consider open lines of communication as essential for a successful marriage. However, discussing finances and other complicated topics is often discouraged in current society, which can make suddenly opening up to your spouse more than a bit difficult.
Prenuptial agreements can give you and your fiancé the ability to sit down and discuss the financial side of your upcoming marriage. By setting down rules and parameters around these issues, you may ultimately find that future discussions on difficult topics will be easier and more fruitful.
Is a prenuptial agreement right for me?
This is a question that many people struggle with. Some worry that they do not have enough financial assets to bother with a prenup, while others worry that asking for one will make them appear selfish. Regardless of your total net worth, you probably have something worth protecting. A retirement account through work, an upcoming inheritance or an expensive computer are all well worth consideration.
Prenuptial agreements are one of the most powerful planning tools available to Florida couples, and can help minimize stress and unnecessary disputes in the event of a divorce. However, simply writing down who gets what is not necessarily sufficient, and soon-to-be married couples should be sure a family court will uphold their carefully worded agreement.