5 Reasons to Consider a Prenuptial Agreement
Entertaining the idea of a prenuptial agreement is a smart strategy according to financial experts. Contrary to popular belief, a prenup is not “one foot out the door” before you marry, but it’s actually a safeguard for you and your spouse. It’s one legal contract that any married couple can benefit from.
Here are five reasons why you should consider drafting a prenuptial agreement:
- FINANCES: The most obvious reason is that if one partner is considerably wealthier than the other, ensuring that the marriage is not a consequence of the wealth is good to note prior. A prenuptial agreement can be used to specify the amount of alimony payable if divorce happens.
- PROPERTY: Property acquired before or during marriage is generally included in your prenup. Determining how a couple will divides their property and who manages to control the property (including heirloom property) in the event of divorce, death, or more is a major necessity.
- BUSINESS: Many business owners prefer to keep their business separate from their marriage. Whether the business entails debt or success, this is something that should be determined prior to marriage.
- RETIREMENT: Retirement funds are often not thought about when getting married. What happens to your retirement plans or pensions should you get divorced?
- STATE LAWS: States have different laws in terms of what a prenuptial agreement can enforce, but states also have laws in regards to what the “split” looks like financially, with property, life insurance, etc.
Prenups, also referred to as “premarital agreements”, are contracts that allow couples to divvy up assets prior to marriage in order to avoid the painful, high-emotion process that comes with divorce. Partners are able to communicate openly, clarify their concerns, and prepare for the possibility of the marriage ending with no stress.
Sessums Law Group, P.A. protects your assets and your future by drafting, enforcing or defending against prenuptial and postnuptial agreements. Our Florida Bar double Board-Certified founding partner has the expertise to guide you confidently through family property law. Call our office at 813-435-5058 or contact us online to arrange an appointment. At Sessums Law Group, P.A., we stand for you!