No one wants to think about divorce while planning to get married to the love of their life. Prenuptial and postnuptial agreements have a reputation for showing little faith in the union since they outline what happens if the couple splits. However, these financial arrangements can save you a lot of grief if you own significant assets or have other money-related concerns.
Did Divorce & Mediation Law Firm | Cabanas Law Firm pop up in your search for a “divorce attorney near me”? If you’re near one of our three locations in Florida, our experienced attorneys can help with your prenuptial or postnuptial agreements. This article explains what these documents do and how they can help you even if you’re happy with your partner.
What Is a Prenuptial Agreement?
A prenuptial agreement is a contract between you and your future spouse that determines how you’ll divide each of your assets and debts upon divorce. While you may be confident in your decision to marry your partner, this agreement can give you some peace of mind if you have assets you wish to protect.
Prenuptial agreements are helpful for those who have:
- A large estate
- A considerable inheritance
- Children from a different relationship
- Significant assets
Those who have been through a contested divorce know how painful the process can be. Breakups can be disastrous, and the last thing you’ll want to do is spend a significant amount of time going back and forth with your spouse about splitting up your marital property. Prenuptial agreements strive to put those issues to rest by mutual agreement in writing as to what will happen with your assets and liabilities in the event of a divorce.
If you have children from a previous marriage, you will want to ensure that they receive their inheritance if you pass away. Your spouse could disinherit them and leave them with nothing, but a prenuptial agreement can prevent that. You can specify in the contract that the inheritance is for your children, protecting them even when you’re no longer around.
What Is a Postnuptial Agreement?
Postnuptial agreements are essentially the same as prenuptial agreements, except you make the contract after the wedding. If you got married without a prenup, you and your partner currently share all your of your post marital assets and possibly some of your premarital assets. Couples may opt for a postnuptial agreement if:
- They waited too long to establish a prenup
- They initially did not need a prenup
- One of them suddenly expects a large inheritance
There are many reasons why couples may choose to create a postnuptial agreement. This contract helps individuals control their assets outside the marriage and protect themselves from their partners’ financial decisions.
You may not have had significant assets at the beginning of your marriage, especially if you were young. But as time passes, your wealth may begin to grow. For example, if you saved money and decided to start a business, you might want to ensure that your enterprise remains your property in case of a divorce. A postnuptial agreement prevents your spouse from claiming any ownership of your business in a divorce.
Prenup or Postnup: Which Is Better?
Prenuptial and postnuptial agreements are extremely similar, but which one is right for you? As mentioned above, young couples may not need a prenup contract for their finances if they aren’t bringing much into the marriage. However, if you have a large inheritance or own considerable property, a prenup is advisable to avoid losing ownership of your assets in the divorce process.
Alimony and Child Support
You can also decide on alimony payments before you get married with a prenuptial agreement. You may choose a certain amount of alimony or decide not to pay spousal support at all after the divorce. Keep in mind that the court will not recognize contracts that have unconscionable terms, such as leaving a stay-at-home mom with no financial support.
Both prenups and postnups cannot enforce a specific parenting plan for your children. You must decide on child support and custody in family court after the divorce, as these issues are left to the sound discretion of the judge.
In conclusion, a prenup is best for couples who go into a marriage with many assets or have children from a previous marriage they wish to protect. Postnups allow couples who decide they want a financial contract later in the marriage to determine how they want to handle their individual and marital property.That said, one someone has gained an interest in your assets by operation of law as a result of a marriage without a prenuptial agreement, it can very very difficult to “put the genie back in the bottle.” The earlier these things are considered and handled, the better. The fact that you do not have assets yet, does not mean that a prenuptial agreement is not right for you.
How Do I Find an Experienced Postnuptial or Prenuptial Attorney Near Me?
When you search for “divorce attorney near me,” you want to find the firm that offers the right experience for your case. No one plans to get divorced when they marry, but you have the option to make it easier just in case. We handle divorce and mediation cases with transparency and respect at the Divorce & Mediation Law Firm | Cabanas Law Firm.
To work with an experienced prenuptial or postnuptial agreement attorney, contact one of our Florida law firm locations in Pembroke Pines, Weston, or Sunny Isles Beach. Call us today at (954) 447-2580 or fill out our online form to schedule your consultation.