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A Florida prenup can center on length of marriage

by | Jan 18, 2018 | Prenuptial Agreements

For many people, the primary concern over prenuptial agreements is the risk of signing away one’s rights before the marriage even begins. It’s important to understand that Florida couples can create a prenup that meets their specific set of needs. Gone are the days when prenuptial agreements were drafted solely to protect the interests of one party. Couples can now customize their marital contract to suit their specific circumstances.

For example, it’s possible to create a prenuptial agreement that limits one party’s access to wealth brought into the marriage by the other party. If the wife brings considerable assets to the union, it’s perfectly understandable that she and her family would want to protect those assets from loss in the event of a divorce. That said, the husband might be concerned that, if the marriage ends after many years of commitment and partnership, he risks walking away with next to nothing.

One way to address this concern is to draft a prenup that is based on the duration of the marriage. For example, the non-moneyed spouse could agree to make no claim on the other party’s wealth if the marriage ends in fewer than five years. After that point, a graduated step-up can be outlined. If the marriage should end after 10 years, the non-moneyed spouse would receive a certain amount, increasing every five years or so.

In most cases, prenuptial agreements are intended to protect against the loss of wealth in the event of a very short marriage, or one in which the non-moneyed spouse has every intention of benefiting from a swift divorce. Tying the terms to the duration of marriage can ease the concerns of everyone involved. For many Florida couples, this is one way to make a prenuptial agreement more palatable. However, it certainly is not the only manner in which a prenup might be structured.

Source: hometownlife.com, “Key issues every prenup should cover“, Henry Gornbein, Jan. 14, 2018

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