A prenuptial agreement is typically worth having

On Behalf of | Mar 27, 2020 | Family Law |

Florida residents who are planning on getting married may have thought about asking for a prenuptial agreement. While it may not seem like a top priority, it can be essential for those who want to protect their assets or assets that belong to their families. It isn’t uncommon for individuals to have money in a retirement account or brokerage account prior to getting married. This is typically because people are waiting longer to get married for the first time.

Therefore, they are several years into a career or otherwise have had time to accumulate assets that they don’t want to lose in a divorce. A person who is getting married for a second time could benefit from a prenuptial agreement if he or she has children from a first marriage. A prenuptial agreement could stipulate that money or other items go to those children if the marriage fails or the owner of a given asset dies.

Finally, prenuptial agreements can be worthwhile for those who own a business. In many cases, a spouse will be entitled to a portion of the company if the marriage fails. This could result in a significant financial loss for the organization, and it could also result in the company having to cease operations.

A divorce may have both financial and emotional impacts on a person’s life. Negotiating a prenuptial agreement allows a person to negotiate the terms of a divorce before the marriage even starts. This means that he or she can craft its language while on good terms with the other party to the relationship. This may make it easier to obtain a deal that meets a person’s needs without spending as much time or money obtaining it.

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