Most Florida couples preparing to head down the aisle together have many things on their to-do lists, from sending out invitations to writing meaningful vows. While it may seem fatalist, including "have a prenuptial agreement drawn up" on that list may provide much-appreciated peace of mind and added financial security for some soon-to-be-spouses. The purpose of such a document is to predetermine what each party would receive or agree to give up in the event that a marriage comes to an unexpected end.
When a divorce occurs and there is no prenup, the division of property and assets will be determined based on guidelines established by the state. Prenuptial agreements have grown in popularity in recent years, especially among couples entering a second marriage or those with significant assets. In fact, a common reason to have a prenup is because one party has more assets of their own than the other.
If one individual earns more than the other, a prenup can spell out the duration and type of alimony for the lower-earning spouse. A spouse coming into a marriage with a business they solely own may also benefit from a prenuptial agreement if they want to reduce the risk of having to give up part of the company during a divorce settlement. A prenup could also provide financial security for a stay-at-home parent who may find it difficult to get back into the job market if a marriage ends or prevent one spouse from having to absorb part of the other one's debt post-divorce.
A family law attorney can draft a prenup that's customized to a couple's unique needs. Prenuptial agreements may be amended at any time after a marriage starts to reflect changes with assets or new children. If a divorce does occur, a lawyer can help with many different end-of-marriage issues, such as spousal support, custody/visitation arrangements and the division of marital assets if there is no prenup.