Some couples won’t even address the concept of a prenuptial agreement prior to getting married. They don’t want to “jinx” their marriage with the possibility of a divorce. However, studies have shown that Millennials have a much better opinion of prenuptial agreements than previous generations. And prenups aren’t just for the ultra-rich.
Prenuptial agreements are simply contracts that spell out guidelines for issues such as property division and alimony. The document will dictate the rules on how assets and debts are divided if the marriage were to end in divorce. That’s all a prenuptial agreement does. Yet it’s been given a very bad reputation!
In this article, the Tampa, FL family law attorneys at Westchase Law, P.A. will discuss what you should include in a prenuptial agreement.
Should I broach the topic of a prenup to my future spouse?
While it may feel awkward to broach the topic of divorce before you get married, there are several good reasons to do so. You may have a business that you want to protect from asset division or personal property that you want to ensure does not become a part of the marital estate.
It’s helpful to think about how your business or other assets will be treated if you should divorce prior to tying the knot. After all, marriage is a financial contract between two spouses and has significant financial implications for your future. So thinking about these matters before they become problems is generally wise.
What should I include in a prenuptial agreement?
There are several things you will want to consider before you enter into your marriage with your spouse. Some of the most frequently addressed concerns in a prenuptial agreement include:
- Business ownership – If you own a business that you are bringing into the marriage, you may want to include contingencies on how that business is handled in the divorce. In some cases, value accrued on the business can be considered part of the marital estate even if you owned the business prior to the marriage. If you want to protect your interest in the business, you will need to address the matter in your prenup. If you plan on investing in a business during the marriage, you may want to distinguish what business assets are marital and separate property.
- Alimony – Issues related to alimony can be addressed in a prenuptial agreement. These agreements are legally binding in the case of divorce. This is especially true if your spouse plans on being the primary breadwinner and the other plans on taking care of the children.
- Dependent children from a previous marriage – A prenup can address and protect the interests of children from a previous marriage. This can include financial inheritances and more.
- Spousal responsibilities – A prenup can delineate each of the responsibilities of the spouses during the marriage.
Talk to a Tampa, FL Family Lawyer Today
Westchase Law, P.A. represents the interests of couples who are looking to hammer out a prenuptial agreement before their marriage. Call our Tampa family lawyers today to schedule an appointment, and we can begin drafting your prenup immediately.