Protecting your Assets with a Pre-Nuptial or Post-Nuptial Agreement
Pre-nuptial agreements are about planning for the future, prior to marriage. When we are in love and planning to marry, we all believe that our marriage will last forever. In reality, divorce rates are high and it is possible that you may find yourself fighting about the financial ramifications if your marriage ends. A pre-nuptial agreement is designed to establish what financial terms will apply should the couple eventually end up divorcing. This can include setting out what happens to premarital assets, income and alimony. A post-nuptial agreement has the same objective, but it is prepared after the couple is married, but before divorce proceedings have begun. A valid and binding pre-nuptial or post-nuptial agreement requires specific financial disclosure and adequate timing. Without the proper timing and financial disclosure, you risk the court finding that the agreement is invalid and thus, unenforceable. The terms are as individual as the people. A well-drafted and properly executed prenuptial or postnuptial agreement can save both parties from an uncertain future in the case of divorce, and it is important that both parties are represented by attorneys with knowledge and experience in these matters.
Especially in a first marriage, couples can be uncomfortable discussing a pre-nuptial agreement. It can be construed as a lack of trust or that you expect the relationship to end. Sometimes, couples will put off the discussion until after the excitement of the wedding and then will complete a post-nuptial agreement. Or, some couples will address a post- nuptial agreement when they find they are facing marital issues that may indeed lead to divorce.
Pre-Nuptial and Post-Nuptial Agreements are Legally Binding
If you are entering into a marriage with substantial assets and/or income or you just want it to be clear what the expectations are if a divorce occurs in the future, it is in your best interest to plan ahead and seek counsel about the drafting of a pre-nuptial. Additionally, if prior to marriage, you are a business owner, it is wise to have a pre-nuptial agreement in place to secure the financial safety of your business, the employees and the assets of the business.
If you are considering entering into a pre or post-nuptial agreement with your future spouse or existing spouse, please contact Ambrose Family Law, in Lake Mary, Florida, today to schedule a consultation. We would love to help you protect your interests. Call today at (407) 388- 8740.