When a Florida couple is in the wedding planning phase of their relationship it may seem as though nothing could possibly happen that could tear their soon-to-be life apart. However, the reality of the matter is that many American marriages end in divorce. Before the partners to a couple make their union official through a legal marriage, there is an important legal option they may wish to execute to protect their financial interests in the event that their marriage is unsuccessful.
A prenuptial agreement is a contract that unmarried people enter into prior to their wedding that outlines how their assets and debts will be divided should their relationship end in divorce. A prenuptial agreement cannot spell out how child custody or support matters will be resolved, though, as the best interests of children must be assessed by the courts when these important legal matters are being worked out. However, money matters between married people can be predetermined through the execution of a valid prenuptial agreement.
A prenuptial agreement can protect a person from having to share with their ex-spouse assets that were obtained prior to their marriage. It can prevent a person from becoming liable for their ex-spouse’s debts and liabilities, too. Additionally, such an agreement can be used to limit a party’s exposure to claims for spousal support once a marriage is over.
There are many ways that prenuptial agreements can serve Floridians, though not all individuals find these contractual documents to be romantic or in the spirit of marriage. What prenuptial agreements lack in sentimentality, though, they make up for in practicality and can benefit individuals who stand to financially lose if their marriages do not work out.