In February 2010, Harris Interactive conducted a poll for USA Today on the opinion of adults in the United States regarding prenuptial agreements. Among other things, the poll found that 4% of married people have a prenup. In Texas and Florida, which reported divorce rates higher than most other states in 2009, not having a prenup could be especially costly.
Entering into a prenuptial agreement is a smart decision for many couples intending to marry. It may provide for how marital assets are to be distributed in the event of death or divorce, and protect assets, income and inheritance plans for loved ones. A prenup is especially important for those with significant personal assets and children from previous relationships.
Safeguard Your Assets with a Prenuptial Agreement
Too often, couples heading down the aisle allow romantic stars in their eyes to blind them to relationship reality. When in fact we all know that life is unpredictable, and a prenuptial agreement gives people the opportunity to specify what will happen with their assets in the event of divorce or death. Moreover, modern couples should understand that a prenuptial agreement does not reflect unfavorably on one’s feelings for his or her future spouse.
A solidly written prenuptial agreement can protect assets you bring into the marriage, such as:
- Stocks, bonds and stock options
- Primary and vacation homes
A prenup can also provide for spousal support payments and distribution of property should a marriage end; it can also ensure that one spouse is not attached to any risky business ventures pursued by the other spouse. Deciding on these issues when one is calm and clearheaded can help avoid stress and uncertainty, as well as lengthy legal proceedings, in the future.
As the name indicates, postnuptial agreements are created after a marriage has begun. When married couples have concerns about finances or asset protection, voluntarily entering into a postnuptial agreement can put an end to worry and anxiety by addressing one or both spouses threatened financial security. Like prenuptial agreements, they can provide the means of knowing exactly what would happen in the case of a divorce and how both spouses would be able to support themselves.
Martin-Schwartz Family Law serves clients in Florida and Texas.