Do You Need a Prenuptial Agreement?

Prenuptial agreements, commonly referred to simply as ‘prenups,’ are growing in popularity in Orlando, and throughout Florida. Many couples getting married today understand that prenups are no longer reserved for only celebrities and the very wealthy. Truthfully, anyone who has any type of property can benefit from drafting a prenuptial agreement. Below, our Orlando prenuptial agreement and postnuptial agreement lawyer outlines some signs that you may need a contract before tying the knot.

You Have Substantial Property 

The main purpose of a prenup is to outline how property will be divided in the event that a couple gets a divorce. Without a prenup, the equitable distribution laws in Florida will determine how property is divided. These laws divide marital property equally, but not necessarily fairly. Marital property refers to any assets or liabilities incurred by the couple during the marriage. Anyone with substantial property such as investment property can greatly benefit from a premarital agreement.

You Earn Significantly More Than Your Spouse 

If you earn a significantly higher salary than your spouse, it is important to draft a premarital agreement. A substantial disparity in income could mean larger alimony payments if you get divorced in the future. A premarital agreement can outline how much alimony, if any, you will pay. Without  a prenup, the court will determine if you are responsible for paying alimony, the amount, and the duration. A prenup can greatly limit the court’s authority in this matter.

You Own a Business 

Even if you owned a business before the marriage and continued operating it after you got married, it will be deemed marital property. This is because the business likely contributed to the marital household. Any time separate property is commingled with marital property in this way, it becomes a marital asset. A prenup can establish that the business is yours and will remain solely yours even if you get a divorce.

You are Concerned About Your Spouse’s Financial Habits 

If your spouse is carrying a significant amount of debt, or they are known to spend money recklessly, you may also want to consider drafting a prenup. This is the only way to ensure your property is protected and that they are not wasted by your spouse.

You Have Children from a Previous Relationship 

If you have children from a previous relationship, it is essential that you draft a premarital agreement to secure their inheritance. A prenup can specify that property should go to your children. If there is marital property you want to pass down to your children from a previous relationship, it will go to your spouse without a prenup in place.

Our Prenuptial and Postnuptial Agreements Lawyer in Orlando Can Help with Your Case 

At Anderson &. Ferrin, P.A., our Orlando prenuptial and postnuptial agreements lawyer can provide the legal advice you need and draft your agreement to ensure you and your family are protected. Call us now at 407-412-7041 or contact us online to schedule a consultation and to learn more about how we can help with your case.

Source:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.079.html