It is not uncommon for couples to sign a prenuptial agreement prior to getting married. In fact, about one-third of all American couples have signed a prenuptial agreement.
There are many reasons why couples might choose to do this, but some of the most common reasons include wanting to protect their assets in the event of a divorce, wanting to ensure that each party keeps their own property in the event of a divorce, and wanting to outline specific provisions in the event of a divorce (such as child custody and support arrangements).
Whatever your reasons may be, it is important to consult with an experienced attorney to make sure that your prenuptial agreement is fair and covers all potential scenarios. Our Jacksonville prenuptial agreement lawyer at Griffin Family Law has years of experience helping couples draft legally-sound prenuptial agreements.
Read on for seven reasons you should consider signing a prenuptial agreement before getting married.
What is a Prenup?
First things first – let’s define what a prenuptial agreement is. A prenuptial agreement, also known as a “prenup” or “antenuptial agreement,” is a contract created between two people who are planning to marry.
The agreement’s purpose is to protect each person’s assets in the event of a divorce or, in some cases, death. Prenups are not just for the wealthy. Anyone who owns property, has significant debt, or expects to receive an inheritance should consider signing a prenuptial agreement.
How Does a Prenup Work?
A prenuptial agreement is a legally binding contract, which means it can be enforced by a court if necessary. The agreement will outline what will happen to your assets in the event of a divorce, separation, or death.
For example, you may decide that all assets acquired during your marriage will be divided equally between you. Or, you may choose to keep all assets separate.
You can also use a prenuptial agreement to protect yourself from your spouse’s debts. For instance, if your spouse has a lot of credit card debt, you may want to keep your finances separate so that you are not responsible for paying it off in the event of a divorce.
Seven Reasons To Sign A Prenuptial Agreement Before Getting Married
To Protect Your Assets
The main purpose of a prenup is to protect each person’s assets in the event of a divorce. Many couples view prenups as a way to keep things fair in the event of a split, but they can also be useful for protecting businesses, inheritances, and even pets.
While there is the obvious unromantic aspect, they can be a smart way to safeguard your assets and ensure that your property ends up where you want it to in the event of a divorce.
If you’re considering a prenup, speak with a Jacksonville prenuptial agreement lawyer to ensure the agreement is legally binding in your state.
Establish Property Rights and Distribution
Without a prenuptial agreement, the laws of your state will determine how your assets will be divided in the event of a divorce. This can often lead to an unfair division of property, particularly if one spouse owns more than the other.
A prenuptial agreement can help to prevent this by clearly specifying how assets will be divided in the event of a divorce. This can provide much-needed clarity and peace of mind for both spouses.
Keep Your Finances Separate
Perhaps one of the most important—and underrated—benefits of a prenuptial agreement is that it helps to keep your finances separate. This is particularly important if you or your spouse own a business or if one of you has a significantly higher income than the other.
By keeping your finances separate, you can avoid arguments about money and maintain financial clarity in your relationship.
In addition, if you should ever divorce, a prenuptial agreement can help to protect your assets and ensure that you receive a fair share of the property division. For all these reasons, it makes sense to consider a prenuptial agreement to safeguard your financial future.
Avoid a Lengthy and Costly Divorce
No one likes to think about the possibility of a divorce, but unfortunately, it is a very real possibility for many couples.
A prenuptial agreement can help to protect both parties in the event of a divorce by specifically outlining how assets will be divided. This can save both parties time, money, and stress if they divorce.
While no one likes to think about the possibility of divorce, it is important to be prepared for every eventuality. A prenuptial agreement can give you peace of mind in knowing that you are taking steps to protect yourself and your assets.
Create a Roadmap for Your Future
A prenuptial agreement can be much more than just a document outlining how assets will be divided in the event of a divorce.
It can also be used as a roadmap for your future, outlining your financial goals and objectives. This can be especially useful if you are combining finances with your spouse.
By creating a prenuptial agreement, you can ensure that you are both on the same page about your financial future. This can help prevent arguments about money and clarify things for both of you.
Protect Your Children’s Inheritance
While it may not be the most romantic topic to discuss, a prenuptial agreement can be a practical way to protect your children’s inheritance in the event of a divorce.
If you have significant assets or property that you wish to pass on to your children, a prenup can ensure that these items are safeguarded in the event of a split.
In addition, a prenuptial agreement can also help to protect your children from having to pay any of your spouse’s debt in the event of a divorce.
While no one likes to consider the possibility of a divorce, it is important to consider all eventualities when protecting your family’s interests. A prenuptial agreement can give you peace of mind knowing that your children’s inheritance is protected in the event of a divorce.
Safeguard Your Business Interests
Safeguarding your business interests is one of the most common reasons couples opt for a prenuptial agreement. If you’ve spent years building up your company, the last thing you want is for it to be at risk if your marriage doesn’t work out.
A prenup can give you peace of mind by ensuring that your business will be protected in the event of a divorce. It can also help to prevent any potential conflict between you and your spouse over the ownership of your business. If you’re thinking of getting married and you have a business, a prenuptial agreement is worth considering.
Want to Learn more? Talk to a Jacksonville Prenuptial Agreement Lawyer
Marriage is a big decision, and it’s important to be prepared for all possible outcomes. One possibility is divorce. While no one likes to think about their marriage ending in separation, it’s important to be realistic. If you have significant assets, a prenuptial agreement can help protect your interests in case of a divorce.
At Griffin Family Law, our Jacksonville Prenuptial Agreement Lawyer has extensive experience drafting prenuptial agreements. We will work with you to understand your unique needs and create a document that meets your specific goals. Contact us today to learn more about how we can help you protect your assets and interests.