Florida residents who are getting ready to tie the knot should highly consider a prenuptial agreement. This legal document helps to determine what assets are to be considered separate property even after a marriage, how marital assets are to be divided up and many other different circumstances that you specify. While you might be familiar with what a prenup is, you may not realize just how important it is to have this document before getting married.
The various pros of prenuptial agreements
Prenuptial agreements can be a great asset to have to protect your financial future in the event that you ever get divorced. With so many people in loads of student debt, a prenuptial agreement can be signed to ensure that your spouse’s student debt remains only their financial responsibility if you get divorced. This will also help you to establish full transparency about your finances and debts.
When it comes to your family assets, a prenuptial agreement can be a great document to sign to ensure that those assets stay in your family. For example, if you have a diamond ring that has been in your family for generations, you can specify that you get it back if a divorce happens. You can also use a prenup to protect your business in the event of a divorce.
The various cons of prenuptial agreements
We can’t talk about prenuptial agreements without bringing up the major con of uncomfortable emotions. For some people, a prenuptial agreement signifies more than just a business transaction. It may bring up feels of resentment or being insulted. Unfortunately, this is a topic that you’ll have to deal with if you’re going to have a prenuptial agreement constructed to protect your financial future.
Prenups can be a great asset for any man or woman to have going into a marriage. While you may not want to think about a divorce, it’s best to do the prep work just in case it does happen. Think of a prenup as similar to having a life insurance policy. It’s there in the event that you’ll need it one day.
