James R. Schaffer, P.A.

What do you need to know about prenuptial agreements?

| Dec 27, 2019 | Prenuptial Agreements |

Not many people in Florida would think that a discussion about a prenuptial agreement would be an easy conversation to have, but the fact is that these agreements can be vital for those who take a pragmatic approach to marriage. After all, the common refrain is that about half of all marriages end in divorce, although that may not be as true as it once was with changing societal norms. But, divorce is still incredibly common, so many people in Florida would probably like to know how a prenuptial agreement might help them with their relationships.

So, what do our readers need to know about prenuptial agreements? Well, for starters, it is important to understand what these agreements can legally address, and what they cannot. Prenups are primarily intended to protect one party from the other in financial terms. For example, one spouse may be entering the marriage having already accumulated wealth and assets, and that spouse wants to ensure that those assets remain outside of the marital assets that might be accumulated during the marriage. Or, one spouse may have significant debts prior to the marriage, and the other spouse wants to ensure that those debts do not become jointly-owed debts.

Prenups typically cannot address any potential child custody or support issues that might arise in a divorce case. Unlike the fairly certain nature of finances, issues addressing children are simply too complicated and too subjective to include in an agreement executed before marriage – and likely before children from the relationship are even born.

Prenups can be useful documents for those in Florida who are contemplating marriage. Florida residents may need to get more information about their own unique relationships to see if a prenup may be helpful in their circumstances.