Why Have A Prenuptial Agreement?

In this day and age, many Florida couples are choosing to have a prenuptial agreement, or ‘prenup,’ in place before they officially marry, despite the potentially difficult decisions it may trigger. While its approach to marriage may be the opposite of romantic, there are several reasons why executing a prenup can leave your relationship on stronger footing going forward.

The Spouses Must Discuss Money 

Money is one of the most common reasons for divorce, either because of a lack of transparency, or a mismatch in terms of how each spouse chooses to handle assets and debts. Issues like retirement savings, whether or not to pay for college if the couple has children, and whether the household should be one- or two-income can easily drive a wedge between two people who agree on most other marital issues.

A prenuptial agreement is not considered valid unless both spouses provide a “fair and reasonable disclosure” of their assets and debts, and in doing this, they must have those potentially highly-charged conversations. It is always a good idea to go into a marriage as honestly as possible, and executing a prenup can make a big difference in ensuring the air is clear between the future spouses.

Protecting Others Outside The Marriage

It may seem counterintuitive, but one of the strongest arguments in favor of having a prenup is to protect those who may not otherwise be protected by law if a marriage disintegrates. For example, under Florida law, a divorce automatically invalidates any bequest or beneficiary designation granted to the (now-former) spouse. In order to ensure that an asset goes to the former spouse (or to the beneficiary who deserves it), a person can include a clause in their prenup that they wish the bequest to go to a certain beneficiary.

In addition, a prenup is a frequently-used vehicle to provide for children from a previous marriage, who would be superseded by any children of the new marriage in terms of estate planning. Thankfully, Florida law offers fairly broad leeway in terms of what a person can or cannot write into a prenup; only the right of child support and any other matter that does not either break a law or contravene public policy.

Call A Hollywood, FL Prenuptial Agreement Attorney

When two people are about to be married, chances are the last thing they want to contemplate is a future apart. However, planning and executing a prenup can actually help a marriage, given the necessity of being fully transparent. If you have questions or concerns about your prenuptial agreement, a Hollywood, FL prenuptial agreement attorney from the Law Offices of Steven A. Mason, P.A. is ready to offer assistance. Call our office today at (954) 963-5900 to speak to an attorney.

Source:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.079.html