Though the majority of engaged couples are likely not planning to divorce, a large percentage of marriages will not survive. The topic of a marital contract may seem unromantic, but prenuptial agreements provide peace of mind. Even if many Florida residents do not think they will need a prenup, the security they can provide makes them worthwhile.
Given a scenario involving an individual expecting a future inheritance and a broke but enterprising business owner who invested personal assets into a fledgling company, it may appear as if the first would be more in need of a prenup, especially if the inheritance is not kept separate from the marital assets. However, both parties could use the protection these contracts provide. If the first individual currently lives in a state that has laws protecting separate assets, then he or she would likely not need to rely on such a prenup. On the other hand, if he or she moves to another state, then an existing prenup can provide protection.
For the second individual, if a business is started after a marriage commences, barring the existence of a marital contract, the business’ assets are considered marital property in a divorce. Regardless of one’s financial standing at the time of the wedding, a prenup can ensure that each spouse is protected in a divorce. Furthermore, prenuptial agreements can also provide a safety measure for those who are concerned about the welfare of adult children from a previous marriage.
A prenup can enable a spouse to waive inheritance rights that could prevent these offspring from receiving a portion of their inheritance in the case a marriage ends in the death of a spouse. In reality, almost any engaged couple may benefit from having a premarital contract. The discussion over how assets will be divided in the event of a divorce may even benefit their relationship. Florida residents who are interested in drafting prenuptial agreements may consult with an experienced attorney.