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Here's how prenuptial agreements can actually strengthen bonds

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. 

Prenuptial agreements can help preserve family wealth

An individual who wishes to protect his or her own assets and family wealth has a choice to make as a marriage approaches. Prenuptial agreements are one tool that many people choose to use to help them protect income and inheritance, as well as set some nonfinancial guidelines. In Florida, some wealthy families choose to make the prenuptial agreement part of a family estate plan so all children participate, and also to avoid the awkwardness that can sometimes come with bringing up a conversation about prenups with an adult child's future spouse. 

Many prenuptial agreements include marital longevity provisions

Few Florida readers are unaware of the marital woes facing shamed Hollywood producer Harvey Weinstein. In the aftermath of Weinstein's dismissal from his production company and amid rumors of criminal charges to come, his wife of 10 years is preparing for a divorce. The couple had a prenup, but like many prenuptial agreements, the contract included a clause regarding the length of the marriage. 

More and more millennials are seeking prenuptial agreements

According to family law attorneys, more and more young people are including a prenup in their wedding planning to-do lists. Prenuptial agreements were once the domain of the rich and famous but now are viewed simply as financial planning tools. There are a number of reasons why young spouses in Florida and elsewhere have embraced these marital contracts.

Prenuptial agreements: Some include more than financial agreement

Some Florida couples decide to make decisions about their marriages before they begin. Some may choose to legally bind the decisions in a prenuptial agreement. Not only do prenuptial agreements allow couples to make financial decisions before a marriage begins, but some agreements also include stipulations about sexual and romantic decisions, family boundaries, and financial responsibility decisions while married.

Prenuptial agreements can stave off retirement disaster

Many Florida residents aren't thinking about retirement as they plan to walk down the aisle, but perhaps they should. Planning ahead is the best way to reach one's goals, whether in regard to a long and happy marriage or a secure and stable retirement. When it comes to the risk of divorce, those two goals are closely connected. Prenuptial agreements are tools that couples can use to ensure that both parties are able to comfortably retire even if their marriage should end in divorce.

Hugh Hefner was apparently a fan of prenuptial agreements

Many Florida readers are aware of the recent passing of controversial media mogul Hugh Hefner. The man behind Playboy magazine, Hefner has been a colorful character in American society for decades. Upon his passing at the age of 91, it was revealed that Hefner's wife, who is 31 years of age, is expected to receive nothing from his estate. Through a judicial use of prenuptial agreements and estate planning, it appears that Hefner's fortune will pass down to his children and a number of charities.

Finding a happy medium in negotiating prenuptial agreements

Faced with a request for a prenup, some Florida residents will initially react by taking offense. Once the practicalities of prenuptial agreements are examined in closer detail, many people will come to see the benefits of having a carefully drafted prenup. One way to smooth ruffled feathers is to underscore the fact that the agreement is not a one-size-fits-all product, and entails a degree of negotiation. The final outcome should reflect the interests of both parties, not just one.

The changing role of prenuptial agreements over time

When many Florida couples sit down to plan their wedding, they also consider what level of financial protection to include in the process. Prenuptial agreements are far more common now than they were in years past. In fact, the very concept of a marital contract is a relatively new thing, and is an issue that has only been widely accepted in the past 25 years or so. Over that span of time, the reasons leading individuals to consider a prenup have changed.

How property division can impact retirement planning

Negotiating the division of marital assets is one of the most dreaded aspects of many Florida divorces. Spouses know that property division is a necessary step, but are often overwhelmed by the sheer volume of decisions that must be made. Navigating this process can be a challenge, especially for individuals who are also nearing retirement age, and who will have to take an entirely different approach to retirement planning after their divorce.

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Fort Myers Family Law

Sheldon E. Finman, P.A.
2134 McGregor Boulevard
Fort Myers, FL 33901

Toll Free: 877-214-3207
Phone: 239-332-4543
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