The concept of a premarital contract has been around for centuries, especially among the wealthy and well-connected families. However, the millennial generation has been credited for changing many traditions including marriage. They are living proof that prenuptial agreements can be as unique as the parties involved. Since these contracts are increasing in popularity, Florida residents may be interested in learning more about the protections they can offer.
When one hears of a prenuptial agreement, it it often assumed that the parties involved are either celebrities or have significant assets to protect. In reality, almost any couple can employ these contracts for a variety of reasons, including the protection of a business or even intellectual property. There are many individuals who have nurtured the idea of setting up a business and want to ensure that they do not lose sight of their dreams and hard work simply because a marriage did not work out.
Each couple can draft an agreement that best meets their specific needs so long as the terms are not illegal or violate public policy. Since many millennials postpone marriage until they have achieved their personal and career goals, they may have significant assets that they wish to retain. A carefully constructed prenup can address all the assets and personal details that apply to a particular couple’s needs.
An important note is that for a prenuptial agreement to be valid, both partners should have separate legal representatives to ensure that each one’s best interest is provided for in an in equitable manner. It is also recommended that the discussion and planning for these contracts is started several months before the wedding in order for the couple to have enough time to thoroughly review their needs. Florida residents who want more information about drafting prenuptial agreements may be best served by contacting an attorney who has extensive experience in creating prenups that can protect those assets that are most important to the parties involved.