The prenuptial agreement: Why you should consider one
Being in love and planning a future together – specifically a wedding and marriage – is an exciting time in anyone’s life. And while most people, especially if they’re young and in their 20’s or 30’s, are undoubtedly busy with wedding plans, they may not be aware that signing a prenuptial agreement is an important aspect of preparing for marriage.
Florida claims a spot among the top ten states with the highest divorce rates in the nation, with a rate of 13.1%, according to ABC News. So while a prenuptial agreement may seem like another task to complete in the marriage preparation process, it’s always a good idea to consider – especially if you or your spouse has a significant array of assets. Whether it be a family trust or even a business, it’s wise to consider a prenup before saying “I do” and signing the marriage license.
Thinking about going this route? See below why you should consider a prenuptial agreement before you head down the aisle.
A prenuptial agreement is essentially a marriage contract
Drafting a prenup is a way to safeguard your personal finances and avoid tedious, painstaking legal matters if the day should come where you and your future spouse decide to divorce. Having a prenuptial agreement in place can prevent having to decide who gets what when it comes to assets, including the house, the car, or, if there are children involved, custody. If there’s no prenup, these will be decided in court or through litigation if your marriage does end.
Prenups do cost money – but they’re worth it
Like most everything else on your wedding planning list, a prenup isn’t free. Depending on the assets you and your future spouse already possess, a prenup can be fairly straightforward or may involve more intricate planning. Truly, it all depends on your situation. So, in that case, you’d need an experienced prenup agreement attorney, like Joseph Knape, who is seasoned in contracts, family law and divorce law. Having a solid attorney will ensure that you’ll be protected to the full extent of the law. So while prenups may seem like an added expense to your planning, it’s worth it to budget one in to ensure a secure future in case plans change.
A divorce with no prenup is a long road
Divorce is already a painful and difficult situation, and not having a prenuptial agreement in place can make it even more grueling, especially if it’s contested. You could lose assets, such as a business that you’ve worked hard for or money from a family trust. In fact, if you’re connected with a family business, your ex-spouse could even be entitled to a voice in making decisions about the business if no prenup was established and agreed upon. In short, a divorce without a prenup can be a challenge like no other.
If you’re considering a prenuptial agreement, call us at the offices of attorney Joseph Knape at 850-225-5563 or set up a free consultation online for the legal help you need to craft a solid prenup and plan for your future.