Most Florida couples know that financial matters are a leading cause of marital turmoil and could even lead to divorce. For those who have yet to tie the knot, deciding how to navigate financial disparities can be a challenge. When the right approach is taken, talks about prenuptial agreements can actually serve to strengthen a couple's bond.
That's because prenups are inherently flexible and can be drafted to suit any number of preferences. For example, if one party feels that the prenup is only meant to protect the moneyed spouse from loss, provisions can be written in to transfer a portion of wealth to the other party as the years pass. Another way to address concerns is to create ways for the non-moneyed spouse to have access to financial resources throughout the marriage. That prevents a scenario in which only the wealthy spouse controls the purse strings in the union.
Another benefit of drafting a prenup is that the process forces a couple to focus on their relationship as the central aspect of their lives. That can be a departure for parties who work in the family business or who are burdened by a heavy sense of responsibility to their family of origin. It's normal to feel close connections to one's family, but marriage marks a transition into a new family structure that should take center stage.
Working together to create prenuptial agreements is a great way for Florida couples to start their marriage. Long gone are the days when a prenup was only intended to protect the more moneyed spouse. Today's documents can do more to bind a couple together than to tear them apart.
Source: wealthmanagement.com, "Prenuptial Agreements: Beyond the Necessary Evil", Keith Michaelson, Feb. 7, 2018