Preparing for a wedding can be a whirlwind experience, and one that can overwhelm even the most organized of people. For many in Florida, drafting the perfect prenup is just as important as selecting the ideal wedding cake or hiring an amazing band. When working through the details of a prenuptial agreement, it is important to include all assets of significant value. The following are some of the most important items that people forget to add to their prenup.
To begin, the first item of value that should be addressed is the engagement ring. Most often, the ring is considered a gift from one’s partner, and is listed as such in the prenup. However, in cases where the ring is a family heirloom from the groom’s side, it may make sense to include language within the prenup that clarifies that the ring will be returned to the groom’s family in the event of a divorce.
Another commonly overlooked issue involves business interests held by one party. Most people choose to list their existing business assets as separate property. Some will even include language specifying that any increase in value after the marriage will also be considered separate property, and not be subject to division during a divorce.
Preparing a carefully considered prenuptial agreement is an important step when planning a wedding. For many Florida residents, this document will never need to be called into action, and the marriage will be a long and happy union. For those who do eventually move toward divorce, having this financial protection in place can make a world of difference if property division should become necessary.
Source: brides.com, “The 6 Things You’re Forgetting to Include in Your Prenup (From a Divorce Lawyer)“, Jaimie Mackey, July 29, 2017