A couple need not be a celebrity or come from a wealthy family in order to employ a marital contract before exchanging their vows. While there may be a few engaged Florida residents who will not necessarily need prenuptial agreements, chances are that more couples would benefit from having a well-drafted contract in place. There are likely many couples who could derive peace of mind from a prenup if a marriage does not survive.
It is recommended that older couples and those with children from a previous relationship have a prenup in order to protect the rights of their children or those of an aging or ailing spouse. If either or both spouses have ownership in a business or hold a professional license, these contracts provide much needed protection during a divorce settlement. Likewise, if either spouse is involved in the public or entertainment sector, then these contracts can prove to be a means of preserving one’s reputation and resources. Furthermore, these contracts can ensure that a wealthier spouse can shield his or her assets while providing for the other in an equitable manner.
Once a couple decides a prenup fits their needs, there are protocols that must be followed. The first is full disclosure of all assets, and each party is required to have separate legal counsel to ensure that the contract will be as fair as possible. It is recommended that these contracts be as simple and straight forward as possible. Contracts that stick to how to divide marital assets and related legal issues are more likely to be accepted by the courts.
Couples can begin the process of preparing prenuptial agreements by discussing how to manage their expenses, retirement assets and marital income. Maintaining separate assets may facilitate the divorce process should the relationship end. An attorney who is well-versed in these agreements as well as Florida’s divorce laws can provide sound guidance in drafting a suitable contract.