How Do I Make a Prenuptial Agreement?
We all think that we’re not going to be the couple whose marriage ends in divorce, but with a 50 percent chance of that happening, it’s wise to consider a prenuptial agreement. When you’re wildly in love and planning the wedding of your dreams, the idea of agreeing on and writing down what happens if it doesn’t work out (especially if you’ve just put down massive deposits for wedding-related items) can be a buzzkill. However, the best time to decide how to handle your assets and debts is when you’re deeply in love.
We hope you’ll never need to use your prenuptial agreement in Tavares, FL—but if things change, you’ll be glad you had one.
Who needs a prenup?
Any couple getting married could use a prenuptial agreement, not just the wealthy. This is especially useful if you have children, debts or assets from a prior marriage. It might not be romantic, but think about it as clarifying the business details of your upcoming marriage. It can protect one partner from another’s debts, or specify how you’ll handle your financial obligations and property in the event of divorce. This can help avoid arguments and make the divorce process a lot easier.
Keep in mind that you will be limited by the law in your state. For example, some states don’t allow people to waive the right to alimony in a prenup. Your ideas of what you want in a prenup versus what you’ll be allowed to have may diverge, so be prepared to make compromises.
If you don’t have a prenup, your property will be divided according to state law. Consult with a prenup attorney in Tavares, FL to determine whether these laws are acceptable to you, or if a prenup is in your best interests.
What are the requirements for a prenup?
Prenuptial agreements need to be voluntary, informed and notarized. That means you cannot force someone to sign a prenup under duress (that is, under threat of something dire happening if they refuse to do so). Each partner also needs to know the full state of the other’s finances before signing, so don’t expect that you’ll be able to hide bank accounts or mountains of debt. Notarization is simply to ensure that the document is witnessed and signed by someone who can attest to the fact that it was properly executed and neither party was under duress.
Prenups are becoming more common due to the prevalence of remarriage and blended families. However, they are still scrutinized to ensure they’re not unfairly privileging one spouse over the other (historically, this meant a wealthy spouse taking advantage of the lower-income partner).
To make sure that you have a fair and properly executed prenuptial agreement, it’s smart to work with an attorney. They’ll be able to explain the laws as well as the potential outcomes so you can both make an informed decision.
K. J. Law P.A. offers a full array of family law services, including prenuptial agreements in Tavares, FL. Call today for a consultation.
Categorised in: Divorce Lawyers