What You Need to Know About Pre and Post-Nuptial Agreements
The connotations that accompany love are almost always enveloped with everything soft, flowery and viewed as perfection personified. And while we all seek the unforgettable, once-in-a-lifetime love, it is also important to remain pragmatic in your relationship. The nature of today’s society often has couples marrying later in life- which means you bring education, investments, and careers with pensions and benefits into the relationship with you. While nobody goes into a marriage or a long-term partnership expecting it to end, the reality is, is that it is a possibility. The sting of an ended relationship is enough pain for one to endure, you do not want to then also have to deal with the complications that arise from dividing assets and money, making an already difficult situation even more so. By discussing the option of having a pre-nuptial agreement in place, both parties can feel assured that the assets they are bringing into the marriage can remain with them should the relationship ever dissolve due to divorce or death.
What is a Pre-Nuptial Agreement?
Often referred to as a “prenup”, a pre-nuptial agreement is a legally binding contract that the couple establishes prior to saying “I do.” The content of the prenup is unique to the couple, but often agreements will cover the following:
- How assets will be protected and defined when entering into the marriage
- How the assets will be divided if the marriage ends due to death or divorce
- The grounds of spousal support (if any) if a divorce should occur
You may feel that a “gentleman’s agreement” between you and your partner is enough to ensure that your assets will be protected, or that there will not be any tension in the division of assets should a divorce occur. However, in the State of Florida in order for a prenup to be valid, it must be in writing, signed by both parties and done without coercion or duress. Adequate disclosure must be provided by both parties and a lawyer can help make sure that your pre-nuptial agreement covers what it needs to, and both parties can feel assured and confident as they go forward with their love and marriage.
What is a Post-Nuptial Agreement?
Very much like a prenup, a post-nuptial agreement is a binding contract between the couple, but it is developed after marriage. If you feel it is important to have the conversation about the division of assets and property for when the marriage comes to an end -either through divorce or death- a couple is still able to address those concerns post-wedding. Additionally, if a couple already has an agreement in place, it is still possible to sit with a lawyer and develop a post-nuptial agreement that suits the needs of both partners in the relationship.
Feeling in the dark about how to approach your pre or post-nuptial agreement? We will work for you to make sure your best interests are taken care of! The offices of Taryn Sinatra Law Firm are experienced and passionate about bringing you the knowledge and expertise you need.
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