Do I Really Need A Prenuptial Agreement?
We’re lawyers, not psychics, so unfortunately we can’t tell you with certainty if you will ever need a prenuptial agreement. We can however tell you that we help people everyday who whole-heartedly believed they never would. Even pivoting from the someone cynical what-if perspective, prenuptial agreements serve a number of beneficial purposes that have nothing to do with divorce. In fact, prenuptial agreements can be seen as creating a solid foundation for your marriage.
Benefits of a Prenuptial Agreement:
There are many benefits of having a prenuptial agreement. Below, we will cover some of the most common:
- Clarifies expectations. Marriage is a big commitment, and it can be easy to go into it blind only to have a lot of anxiety and “what if” questions pop up later. Negotiating a prenuptial agreement allows both parties to ask any questions they have on their mind, such as “what will happen to the house we inherited from my grandparents if we were to divorce,” or “if I quit my job to take care of the children, will I be taken care of financially?” Finding clarity on these questions can feel like a big sigh of relief, and allow both parties to relax into marriage.
- Clarifies roles. Maybe both parties plan on continuing to work, or maybe it is expected that one party will leave work to care for shared children once the couple has them. Maybe one party plans to quit their job and start a business. All of these things can blindside a perfectly happy couple a couple of years into marriage. Understanding each party’s financial role from the beginning can be a huge advantage.
- Protect things that are important to you. If you have certain assets that you want the security of knowing will remain yours regardless of any outcome, those terms can be codified in a prenuptial agreement.
- Protect inheritance. Inheritances are generally treated as separate property, but if you make the mistake of depositing an inheritance in a joint account or using it for the benefit of your family, this can cause it to be classified as a marital asset which can be split up during a divorce. A prenuptial agreement can ensure that any inheritance received by either spouse remains their separate property.
- Protect Your Business. If either party owns a business, is a partner to a business, or plans to start a business, this business can be treated as shared marital property during a divorce, which can completely destroy a business. For this reason, it’s important to protect present and future business ventures with a prenuptial agreement.
- Makes both parties feel comfortable. Marriage is a big decision and can feel like a sacrifice of identity. Knowing that you will be taken care of and will not lose assets that you value can allow both parties to relax into the marriage without external concerns.
Contact Greater Orlando Family Law
If you are getting ready for your big day, make sure you are as ready as possible, with a comprehensive prenuptial agreement that meets both your and your partner’s needs. Contact the Orlando family lawyers at Greater Orlando Family Law today to schedule a consultation.