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Why Is It A Good Idea To Have A Prenuptial Agreement?

Marriage is said to be a permanent affair, but more than half of first marriages in the US end in divorce. The divorce rate is even higher for second marriages. At the time of a wedding, divorce is the last thing on anyone’s mind. The unfortunate reality is that there is a chance that couples will experience the unpleasantness of divorce. This emotionally challenging procedure can be eased with a Prenuptial Agreement.

In addition, often in second marriages, the parties each have children from prior marriages. Each wants to preserve inheritances for those children and avoid possible conflict between the new spouse and those children after one of the spouses dies.

Most divorce lawyers agree with the advantages associated with a Prenuptial Agreement. Some of these advantages are described below.

Asset Division & Alimony: The issues of asset & property division and amount & duration of alimony in a divorce case can be very difficult to resolve. Divorce can bring out the worst in people and prevent couples from negotiating fairly. Many divorce cases are drawn out when couples are not able to overcome their differences regarding asset division or whether one party must pay alimony to the other. A Prenuptial Agreement includes provisions concerning the division of finances and incomes. Thus, it gives a chance to the couples to resolve these complex issues with much less difficulty.

Inheritances & Estate Planning: Surviving spouses have specific rights under Florida law when their mate predeceases them. Some of those rights can deplete what a parent may wish to leave to children from prior relationships. A Prenuptial Agreement allows the parties to address what each wishes to leave to the other and what they want to leave to both children they have together and children they have from prior marriages. It can also address estate and inheritance tax issues and prevent either from changing estate planning strategies to the detriment of the other.

Contractual Nature of the Prenuptial Agreement: Florida law approaches Prenuptial Agreements from a contract perspective and treats them as enforceable contracts subject to contract law. We have decades of experience with contracts and a full understanding of Florida contract law. Likewise, we are very experienced in the nuances of Prenuptial Agreements and the requirements that must be met, including financial disclosure, in order for a Prenuptial Agreement to be valid.