James R. Schaffer, P.A.

Does your situation warrant a prenuptial agreement?

| Sep 24, 2020 | Prenuptial Agreements |

Florida couples have to tackle difficult conversations throughout their marriages. Of these, conversations about money can be some of the most difficult to get through. It is not uncommon for disagreements over money to ultimately end in divorce, either. Signing a prenuptial agreement to prepare for this possibility is smart, but especially so in any of the following situations.

Examining your circumstances

Before tying the knot, business owners should ask themselves what they are willing to lay on the line during a divorce. Some owners make the mistake of thinking they must have significant assets tied to their business for a prenuptial agreement to be beneficial. In reality, these agreements often provide protection should anything surprising come up during divorce.

Those who relocate, leave their jobs or plan to be stay-at-home parents can also benefit from a prenuptial agreement. Any of these actions can leave someone in a vulnerable financial position, with fewer overall assets and less options within the job market. A prenuptial agreement can give you peace of mind when making life-changing decisions.

A prenuptial agreement is also a sensible idea for someone who is marrying for the second time. It is not uncommon for there to be a significant difference in assets in a second marriage, with one spouse bringing in much more than the other. Anyone who has already divorced once most likely understands the reality of dividing assets, so being prepared is in the best interest for everyone involved.

Unfortunately, there is a negative connotation to asking for a prenuptial agreement. Many people in Florida solely associate prenups with celebrities or the very wealthy. The reality is that virtually anyone could benefit from the added layer of protection a prenuptial agreement provides. Learning more about these protections and how they may work in one’s favor and can help address any uncertainty surrounding this subject.