Top Reasons to Have a Prenuptial Agreement

On behalf of Ronald H. Kauffman, P.A. posted in Agreements on Monday, June 3, 2013.

Property division are important for couples planning to marry. Many people believe prenuptial agreements are only for the rich and famous. However, prenuptial agreements help all couples. Here are a few reasons why:

Keeps Your Non-Marital Property Non-Marital. The property you brought into the marriage is yours. But over time it is common for people to start mixing things up. Inheritance funds get deposited into joint accounts, properties get transferred into joint names…and all for good reason. Unfortunately, tracing commingled property is expensive, and hard to prove. But, if you put it in writing at the beginning, you can avoid this task and save some money down the road.

You Can Change the Law. Right now in Florida, there has been an ongoing debate about alimony. When you go to court, a judge has to follow state law regarding alimony. However, through an agreement you can modify Florida’s legal standards for awarding alimony, in addition to modifying what the current law says about the amount of support and the duration of the alimony period.

Avoid Expensive Divorces. Let’s face it, divorce can be expensive, and the cases don’t end quickly. A prenuptial agreement can simplify things by resolving issues ahead of time, way before the divorce is even filed. Once you have entered an agreement spelling out what happens in the event of a divorce, the case becomes a lot more cheaper, simpler and faster to resolve.

Protects Your Children’s Inheritance. Prenuptial agreements protect property from falling into the hands of the new spouse, often seen by children from earlier marriages as a “gold digger.” An agreement helps assure your children that any inheritance is protected, and they don’t need to resent the new spouse.

It is important to be aware of all of the consequences of marriage, and do what planning you can to avoid complications and costs in advance