MIAMI, Florida. If you are marrying a high net worth individual, you may, at some point, find yourself facing a “prenuptial agreement talk.” Whether it’s because your future partner’s family has wealth that they want to protect, or whether it’s because your partner is independently wealthy and wants to protect his or her business interests, marrying a high net worth individual or marrying into a high net worth family can come with its own set of unique complications.
While some might believe that a prenuptial agreement only protects the high net worth individual, that is hardly the case. A prenuptial agreement that will stand in court generally has to show some balance between what it offers each party in the marriage. At the very least, a prenuptial agreement forces you and your future partner to discuss finances early in your marriage. According to CNN, it can be helpful because a prenuptial agreement requires both you and your future partner to get honest about your financial lives and future. Unfortunately, not all couples understand their partner’s financial lives before they get married and then they face surprises later.
If you are the lower net worth individual and are in the process of considering a prenuptial agreement, there are ways that you can protect your interests and get a good deal that will offer you a more secure financial future should you get divorced. For example, some prenuptial agreements stipulate that any money the lower-net worth individual earns will go into their own private nest egg. However, this provision may not be beneficial if you plan to raise children or stay home to support your partner’s endeavors. Other provisions may ensure a certain income a year from the high net-worth individual to ensure a basic standard of living should the marriage end.
It is important to hire your own prenuptial agreement lawyer to review any agreement before you sign, especially if you are the lower net worth partner. There are many ways in which a deal might seem good in writing but could have serious tax implications or other implications in the future should you get divorced. The New York Times even wrote about “stealth prenuptial agreements” some individuals can make by incorporating in a foreign country to protect significant portions of their wealth from a future spouse. While a spouse must reveal all his or her assets, if your future partner discloses that he or she has foreign assets, it is important to consider how this would possibly play out in your divorce.
Sandy B. Becher, P.A. are divorce lawyers in Miami, Florida who work closely with individuals who need prenuptial agreements or who need representation after they have been asked to sign a prenuptial agreement. Our firm can help you suggest provisions that will protect your rights and your future, while also looking over any agreement to raise any concerns. Visit us at https://sandybecher.com/ to learn more about your rights before signing any prenuptial agreement in Miami, Florida.
Sandy B. Becher, P.A.
201 S. Biscayne Boulevard
Twenty Seventh Floor
Miami, FL 33131