What to Include in Your Prenuptial Agreement
If you are planning to get married, having a prenuptial agreement in place can offer a great deal of protection and reassurance. If you and your fiancé have already talked about drafting this type of legal contract, you have already made great strides in making sure your future is protected. If you have already had that conversation, you may have a good idea of what you would like to include in a prenup.
Still, certain factors are easy to overlook, particularly if you are unfamiliar with some legal issues. Below, our Orlando prenuptial agreements lawyer outlines some of the most important things to include in this document.
Defining Separate Property
One of the biggest benefits of drafting a prenuptial agreement is that you can use it to define which assets are marital property, and which are separate in case you ever get a divorce. These assets may include inheritances or a business, even if you started it after you were married. By specifically defining marital and separate assets in your prenup, you do not have to worry about losing it if your marriage does not work out.
Provisions for Debt
If you are about to get married, it is critical that you and your fiancé have a conversation about the amount of debt both of you are currently liable for. You then need to determine how this debt will be divided in the event of divorce and include this in your prenuptial agreement. If you do not include debt in the prenup, one or both of you may be responsible for debt you did not incur yourself.
Thinking about divorce before you have even gotten married is something no one wants to do. You also likely do not want to consider the certain issues you will have to address during divorce. Alimony is one of these issues and disputes about it can become very contentious. If you or your future spouse earns a much higher income than the other, you may want to include provisions for alimony in the agreement.
Issues Surrounding Estate Planning
Prenups are generally used to determine how assets will be divided during divorce, but they are also important estate planning tools. If you have children, especially if they are from a previous relationship, you can use your prenup to leave their inheritance to them. Your prenup can also stipulate where you want your children to live in the event of your death. If you have other assets you would like divided in a certain manner after your death, a prenup can include these provisions, as well.
Our Prenuptial Agreement Lawyer in Orlando Can Help
If you are getting married, a prenuptial agreement can provide a great deal of protection. At Anderson & Ferrin, P.A., our Orlando prenuptial agreement lawyer can review the facts of your case, determine the most important provisions to include in yours, and draft a contract that will be enforced by the courts. Call us now at 407-412-7041 or contact us online to request a free consultation and to get the legal help you need.