The Protective Prenup: Tips for Florida couples

The Protective Prenup: Tips for Florida couples

| Aug 31, 2017 | prenuptial agreements

For many couples, considering a prenuptial agreement is a source of dread. Far too many people approach the topic of prenuptial agreements with the belief that these marital contracts always begin and end from an adversarial position. In reality, Florida couples often choose a prenup to protect each other from financial loss related to existing debt or anticipated business expenses.

For example, consider a couple where one party is in the process of opening a restaurant. A great deal of time, energy and money will be required in order to get that business off the ground. It may be several years before the restaurant turns a healthy profit, and during that time, debt is likely to accumulate.

In that example, the spouse who is taking on that risk may want to protect his or her partner from liability in the event that the marriage should fail. Viewed from this perspective, a prenup that clearly outlines the responsibility of each party toward paying back financial obligations is a matter of protection. The same might be said for couples who have a high level of student debt brought into a marriage.

Fortunately, Florida couples have a great deal of flexibility in structuring a prenuptial agreement that suits their needs. For some, outlining a period of time during the early years of marriage where each party will be responsible for his or her own debts could bring peace of mind to both partners. In this way, a prenup serves a protective purpose and is not intended to prevent one party from obtaining assets from the other in the event of a divorce.

Source: sentinelandenterprise.com, “Why today’s couples seriously consider a prenup“, Jonnelle Marte, Aug. 20, 2017