Prenuptial agreements, otherwise referred to as premarital agreements, always seem like a sticky subject to bring up between couples who are recently engaged to be married. However, prenuptial agreements are very useful tools that can protect both parties interest if the contract should ever be executed. A prenuptial agreement is defined as a written agreement between two parties entering into marriage, that outlines terms of possession of assets, allocation of future earnings, and property in the event that the marriage is dissolved. What couples don’t realize is when a marriage ends and no prenuptial agreement exists, decisions are left up to the discretion of the courts. This could lead to numerous disadvantages and unnecessary expenses for both parties. Some good reasons to consider a prenuptial agreement are:
- If you have been previously married
- If one party has valuable assets or heirlooms passed down through the family
- One party has more wealth/or much less wealth (how will compensation be divided)
- Business owners with obligations to business partners and investors
- If one party will leave the workforce to raise children
- If one party brings a large amount of debt into the marriage
With divorce rates at an all time high, more and more couples are choosing to hire a family law attorney to draft and file a prenuptial agreement as part of their overall financial plan. Critics say that “planning for the possibility of divorce” is increasing the likelihood of occurrence. I would disagree. If you buy a life insurance policy you don’t expect that a tragedy will occur, you are protecting against a financial catastrophe in the event a tragedy should arise. A prenuptial agreement provides the same sense of security.
If you have questions about prenuptial agreements or have questions whether or not a prenuptial agreement is right for your situation, please contact the Anton Legal Group for a consultation.
Please contact our office to speak with a Qualified Divorce Attorney to discuss your individual needs and concerns.
David Anton is a third generation Tampa Bay attorney who has handled all aspects of dissolution actions since 1985.
FOR FAMILY LAW LEGAL ADVICE, PLEASE FEEL FREE TO CONTACT DAVID ANTON OF THE ANTON LEGAL GROUP AT 813-443-5249.