Sometimes, people find themselves in a relationship with someone who is caught in financial or legal difficulties. As tempting as it may be to dismiss these serious problems, they could have a negative financial impact. Florida residents who want to protect themselves from a negative fallout in the event of a divorce may benefit from prenuptial agreements.
The decision to marry is not one that is usually made in haste. However, there are times when it pays to be even more cautious before entering into a marital relationship. If one of the intended spouses is facing serious problems, it is worth the time to discuss the issues and seek professional advice before exchanging marriage vows. It is recommended that partners share such financial information in credit reports in order to gauge the financial decision-making of an intended spouse.
If a marriage is a viable option, partners are encouraged to consult with legal professionals who can assess the risk that each could face in the future. Openly discussing the matter helps in making informed decisions. Likewise, knowledge of the possible ramifications can enable the parties to draft a prenuptial agreement that will provide the best protection in a divorce.
Florida is an equitable division state, meaning if the parties cannot agree on a settlement, the court will decide what each spouse will receive. If there are legal problems, this may further complicate the division of assets and debt. Obtaining legal advice is one way of ensuring that one partner's problem does not become a major financial headache for both parties.
While an estate planning professional can draft valid prenuptial agreements, it is beneficial to have one prepared by an experienced family law attorney. An attorney who is skilled in understanding how legal and financial issues complicate a divorce may be the best individual to prepare a contract that affords the best protection. Though love can be blind, a well-constructed prenup helps prevent tunnel vision.