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Why you should keep an open mind about a prenuptial agreement

If you and your companion recently decided to tie the knot, then chances are good you have already been hard at work creating a master list of all the people with whom you will need to meet in the coming months and all the tasks you will have to complete.

Chances are good that this list will rapidly get much longer than you initially imagined. Nevertheless, you should perhaps consider adding, "discussing a prenuptial agreement" to it. While this admittedly sounds like an unromantic proposition, it may be a conversation worth having given all that this document can do for you when properly executed.

What is a prenuptial agreement?

A prenuptial agreement is a legally binding document that sets forth expectations as to how assets and debts are to be divided in the event of divorce. In other words, a prenuptial agreement allows the couple to bypass Florida's property division laws and decide matters on their own.

Aren't prenuptial agreements typically reserved for wealthy couples?

While it's true that many wealthy couples do frequently utilize prenuptial agreements, they can still prove highly beneficial to people from all walks of life.

What exactly then are some of these benefits?

A prenuptial agreement can ensure that treasured family heirlooms and family-owned business stay in the family, and, for those spouses with children from prior marriages, ensure that they receive property in the event of their passing.

More significantly, a prenuptial agreement can serve to prevent a future divorce from devolving into a prolonged and costly affair, as potentially contentious issues will already be decided. In fact, it could reasonably be argued that the peace of mind that comes from knowing exactly what would happen concerning money and property in the event of a divorce can actually help couples build a stronger relationship.

We'll continue to discuss prenuptial agreements in future posts, including some of the conditions that must be met in order for it to be considered valid.

In the meantime, if you would like to learn more about this or another divorce-related issue, consider speaking with an experienced legal professional. 

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