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What can you accomplish with a prenuptial agreement?

If you are getting ready to marry in Florida, congratulations! Marriage can change your life dramatically, but it is not always easy, and it is not always without disagreement. One way to minimize marital disagreements and possibly prevent them before they arise is to create a prenuptial agreement, which is a legally binding contract that applies to you and your future spouse and takes effect once you marry.

The material covered in prenuptial agreements varies broadly from one couple to the next, but many couples, or parties within a couple, decide they need to create them for similar reasons. For example, you may want a prenuptial agreement if you:

Make or have considerably more than your partner

If you have a much higher income than your spouse-to-be, or if you have sizable assets going into the marriage compared to your partner, you may find it beneficial to create a prenuptial agreement prior to your union. Often, couples who marry later on in life decide they want these contracts in place, because you are more likely to have considerable assets in your later years than when you are younger and just starting out.

Have sizable debt heading into the marriage

If you have amassed significant debt before you marry, or, conversely, if your partner has, this may also be a good reason to draw up a prenuptial agreement. Just as the document can protect your assets in the event of divorce, it can also protect the party without considerable debt and limit her or his liability with regard to it.

These are two primary reasons many people choose to create prenuptial agreements, but they are not the only matters they can cover. Prenuptial agreements can offer clarity on everything from how you plan to pay taxes to who might finance legal fees, should you divorce, and they can be an effective method of minimizing marital conflict from day one.

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Law Office of Philip J. Schipani
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Sarasota, FL 34236

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