A prenuptial agreement is designed to help couples determine what belongs to each party or how things will be divided in the case of a divorce. There are many other benefits to creating this agreement before getting married. Family law professionals in Florida can further expound on the ways that prenuptial agreements can help marriages.
After a couple decides that they are going to create a prenuptial agreement, they typically turn their focus to personal finances and assets. Each party must provide full disclosure of this to the other. This allows both parties to have a better and more thorough understanding of what each person is bringing to the marriage. The parties can then specifically designate premarital property to avoid any confusion.
Couples can also use a prenup to protect future assets or earnings. In many cases, individuals use a prenuptial agreement so that the money they earn later on down the road will not have to be divided equally. Debts, such as student loans, can also be outlined in this agreement, so that the party that maintained the debt prior to the marriage remains solely responsible for it.
Prenuptial agreements give couples the opportunity to talk about their financial situation and learn about that of their significant other. It provides the beginning step to open communications, and can have a significant impact in some couple's lives. Those in Florida that are soon to be married may want to consider negotiating and executing a prenuptial agreement before they walk down the aisle. An experienced family law attorney can help make that happen.
Source: mic.com, "Here's Everything You Ever Wanted To Know About Prenups (But Were Afraid To Ask)", Rachel Grate, Jan. 20, 2016