When a Florida couple walks down the aisle, it is with the expectation they will live happily ever after. In many cases, however, this couple will divorce at some point in the future, and it is possible that a costly and stressful battle over marital property will ensure. This is one reason why many couples, regardless of income level or age, will find it beneficial to draft prenuptial agreements.
Millennials are a generation that have changed many things about marriage. In this demographic, there are fewer divorces because they wait longer to marry or choose to cohabitate. They also are more likely to keep their finances separate because they think this will make it easier in a divorce. Contrary to what many might think, this is not necessarily true. Regardless of whose name many assets are in, they may still be considered marital property, and thus eligible for division in a divorce.
In some cases, having separate accounts may make some aspects of divorce easier. It cannot allow a spouse to shield certain assets from division, if those assets qualify as marital property. The only tool that allows a couple to have that much control over what will happen in a divorce is a prenuptial agreement.
Prenuptial agreements are a beneficial step for any Florida couple planning to marry. They can allow two people to discuss certain important things before marriage, such as individual financial responsibilities, and decide how they want the division of marital property to work in case of a divorce. This is a smart step, regardless of how much the couple earns or how they want to handle their finances during marriage.