Considering the benefits of executing a prenuptial agreement

Although some Florida residents may dismiss prenuptial agreements as unnecessary, it is a good idea for anyone who is planning to get married to educate themselves on what prenuptial agreements can and cannot do for their financial interests. There are some considerations people may want to keep in mind to decide if a prenuptial agreement is right for them.

First, a person should look at their premarital wealth and property holdings. If a person plans to enter a marriage with substantial personal wealth and many valuable assets, they may wish to execute a prenup to formalize and document the property that is and will remain theirs in the event that their union ends in divorce. The same should be done with regard to premarital debts; a person who marries someone with substantial debts may not want any liability for those if the marriage fails.

Second, an individual may want to outline any financial arrangements that they want in place with their spouse during their marriage or as a safeguard if they divorce. Topics like spousal support and property settlements can be addressed in premarital agreements and can save couples time and money during their divorces if they are addressed outside of divorce court.

Even if individuals do not have a lot of money or substantial assets, they may still feel good about having prenups in place. Deciding if a prenuptial agreement serves a person's interests can raise many legal questions. It is important that individuals get accurate and trustworthy information.

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