The decision on whether or not to enter into a prenuptial agreement (sometimes referred to as a “prenup”) is a deeply personal one. However, there are important considerations to weigh before making up your mind.
While no one wants to think their marriage could end in divorce, the fact is that 40 percent of all unions end in permanent separation, according to research from the American Psychological Association.
In this article, you’ll learn the basics of such agreements, as well as different scenarios where the existence or lack of documentation could affect the future for you and your loved ones.
Prenup 101
At the core, prenuptial agreements allow you to make important preparations with a cool and collected mindset, to prevent confusion and hasty choices during moments of consternation and uncertainty.
For instance, you and your spouse might wish to dictate what happens to properties and other assets in the event of divorce. Children from previous marriages are another popular inclusion in such agreements.
Many married couples include specific instructions regarding individual debt that existed prior to their union. Some business owners have also added provisions aimed at safeguarding company assets and operations.
The first step to establishing a prenuptial agreement is to have a frank and honest discussion with your future spouse. It’s also wise for each party to secure separate legal representation. In this regard, it’s essential to partner with a trusted and reputable divorce attorney in Daytona Beach who can guide you through this sometimes-confusing process.
Establish a Comprehensive Plan
Due to the often uncomfortable nature of discussing prenuptial agreements, many couples rush through the process or otherwise leave out important information. Doing so can be detrimental to all parties involved. That’s why it’s important to approach such agreements with a methodical and organized plan.
It’s also wise to note that prenuptial agreements can be tailored to meet your unique requirements and objectives. When you work with a Daytona Beach divorce attorney well-versed in marriage and family law, you get the peace of mind that all relevant information has been considered and included in your agreement. This allows all parties involved to smoothly move forward with life plans in the event of permanent separation.
Understand Agreement Limitations
Just as entering into a prenuptial agreement doesn’t guarantee or somehow encourage divorce, it’s important to understand that such agreements are not safeguards against potential disagreement or disparity.
For example, prenuptial agreements are not designed to enforce minor preferences and/or unreasonable demands from either spouse. In addition, documented provisions may not violate state or Federal law. No part of the agreement can override court-ordered sanctions, such as child support. Also, an undisclosed property is impossible to protect as part of a prenuptial agreement.
Protect Yourself and Your Marriage
Some people find prenuptial agreements allow them to reach a sense of closure following the dissolution of a marriage. That may be in part because such agreements dictate ahead of time division of assets, alimony payment (if applicable), and other considerations.
However, there are couples who feel entering into an agreement assumes or sets the stage for infidelity and/or marital instability. That’s why, as mentioned, deciding whether or not to move forward with a prenuptial agreement remains a difficult personal decision.
Still, it’s helpful to know that there are Volusia County lawyers who can offer valuable guidance and advice surrounding all sorts of family law scenarios. Along with family law, our firm also specializes in other legal concentrations, including criminal defense, personal injury and wrongful death, real estate law, and more. Contact us today to begin the resolution process for all your legal needs.
