When a Florida couple is planning a wedding, it can be difficult to think about anything beyond the wedding day itself. The excitement over wedding plans and starting life together can sometimes prevent a couple from thinking about the future and protecting long-term financial interests.
One of the most common ways for a couple to protect their individual interests before they even tie the knot is to draft a prenuptial agreement. This is not planning on the marriage to fail, but is simply a way to have security for the future. If you decide that this is the right option for you, make sure your prenuptial agreement is strong enough to withstand any scrutiny or disputes in the future.
What should be in your prenuptial agreement?
The intent of a prenuptial agreement is to eliminate legal disputes over certain property and assets in case of a divorce. This can allow one party to secure protections over a certain asset or outline how they wish property division to work during a divorce. Your prenuptial agreement may determine issues such as division of marital debts, division of community property and more.
Making sure you have a strong prenuptial agreement
There are few missteps and mistakes you would be prudent to avoid as you consider the terms of your prenuptial agreement. When there are problems, discrepancies or legal issues found with the prenuptial agreement, it can result in its partial or complete invalidation. Some factors that could compromise the validity of your prenuptial agreement include:
- The prenuptial agreement is not in writing.
- Both parties were not aware of all of the terms before signing.
- One party claims he or she experienced pressure to sign it.
- There was no time for consideration.
- The provisions in the agreement are illegal or invalid.
- Both parties did not have independent counsel to review the agreement before signing.
It’s crucial to ensure that the terms of your agreement are appropriate and that no mistakes happened in its drafting or signing. If a dispute arises during a divorce, your care and vigilance could make all the difference.
Drafting a prenuptial agreement is not something only reserved for the very wealthy or those with significantly valuable assets. This is a step for all individuals who wish to be proactive in protecting their assets and simplifying a potential future divorce.