What is a prenuptial agreement, and why should you get one?

 

Posted on September 23, 2021

A prenuptial agreement is a written contract between two people who are about to be married. This contract is usually a list of properties owned by each person and details the rights to each of the properties once the marriage ends.

The purpose of a prenuptial agreement is to clarify how a couple's assets will be divided in the event of a relationship breakdown, and the exact details vary from case to case.

What topics does a prenuptial agreement cover?

• Protecting the inheritance of children or specific assets.
• Protecting inherited money, assets, or savings.
• Giving both spouses the ability to decide how assets will be divided if they decide to divorce.
• Allowing one spouse to retain full control of business ownership after the divorce.
• Protecting you from your partner's debts.

Many people fear that talking about these issues, or even bringing up the word "prenup," will disrupt their relationship. Often, just the opposite is true. One of the main irreconcilable differences that lead to divorce is finances. Talking with your spouse in advance about finances, property, and management of marital assets can help you avoid many of these disagreements.

Why should you get a Prenup?

Contrary to popular opinion, prenuptial agreements are not just for the wealthy. Although prenuptial agreements are often used to protect the assets of a wealthy fiancé, couples of more modest means are increasingly turning to them for their own purposes.

Here are some reasons why some people want a prenuptial agreement:

• You can avoid a court deciding what happens to the property attained during your marriage.
• Determine how property will be passed upon death.
• Clarify financial rights and responsibilities during a marriage.
• Avoid costly disputes in case of divorce.

Prenuptial agreements do not cover:

• Anything illegal.
• Child support or child custody issues.
• Any provision encouraging divorce.
• Personal preferences rather than financial matters.

Can I change a Prenuptial Agreement after my marriage?

No, you cannot change a prenuptial agreement once they are agreed upon or once you are married without the agreement of the other party. However, postnuptial agreements are a great alternative if you want to change the terms. They are treated in the same legal manner as prenuptial agreements but created after the marriage.

Do you need a Prenuptial Agreement? Contact our family lawyers!

A court can set aside any provisions it finds to be overreaching. For example, courts have set aside provisions that don't allow a spouse any share of the other's bank account if the account holder greatly contributed to that bank account during the marriage. If a judge decides that your prenup is unfair or does not meet state requirements, the contract will be voided.

Both parties should have any prenup reviewed by their family law attorney, who can advise them of their rights and review the prenup to make sure it complies with state law.

Signing a prenuptial agreement created by an experienced attorney can help secure your future. Our Orlando family attorneys will extensively review your case to draft the perfect contract for your situation. If you have questions or concerns, contact us for an initial consultation by calling 407-426-6999.

 

 

David Roberts
Family Law Attorney