What Exactly Are Prenuptial Agreements?

There are an extensive amount of misconceptions and half-truths surrounding prenuptial agreements. Before we elaborate on their benefits, we must establish what they are not. When people think of them, they likely imagine the higher earning spouse asking someone to sign one to protect only their assets. That is why some people have come to view them as one-sided. 

The Truth About Prenuptial Agreements 

Not only do both parties have to agree to the terms, but each person should have their own attorney to advise and assist them with negotiations. The agreement is invalid if signed under duress, fraud, or coercion. If you are the person asking your future spouse to sign a prenuptial agreement, you need to ensure they have their own attorney. You can even pay for the other party’s attorney. That way, if your relationship ends in divorce, it would be significantly harder for them to say they were forced to sign or didn’t understand what they were signing if they had their own attorney. 

Why They Are Important 

A recent survey revealed that more than 30% of couples between 18-29 want to buy a home together before marriage. Together, they can afford a nicer house, and they can always sell the home if they break up. Is that scenario completely without complications? Absolutely not. However, that same situation becomes exponentially more complex if they buy a house, get married, and then divorce. 

When it comes time to divide assets, you will have to consider:

  • Active and passive interest

  • How much each person contributed to the home financially 

  • The cost of renovations 

There are so many other variables to consider in this scenario. How was the mortgage split before the marriage? The point is that these types of questions get answered and sorted when two people sit down and discuss them before they are married. The attorneys will not only provide you with feasible ways for doing so, but they will also explain whether it is in your best interest to sign the agreement. 

Begin to view prenuptial agreements as a catalyst for having an adult conversation about your finances. People bring debts and assets into a marriage, and a prenuptial agreement is a chance for both of you to decide how they will handle it. 

Speak With Attorney About Creating a Prenuptial Agreement

A prenuptial agreement protects you and your future spouse’s assets. Although they may avoid alimony payments, they do not cover the issue of child support. You must speak with an attorney because prenuptial agreements must conform to Florida law to be valid. To learn more about how we can help you write one, contact C. Alvarez Law to schedule a strategy session.

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C. Alvarez Law

C. Alvarez Law is a Central Florida-based law firm that helps families find resolutions to their most complex family law issues. We are dedicated to providing the support and advice you need for a positive outcome and a better life. Before you can move on with your life, you need closure. Our firm is diverse, energetic, and passionate about delivering this for the clients who have placed their trust in us. Let’s work together today to find a better tomorrow.

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