MIAMI, Florida. If you are engaged, you might be thinking flowers, wedding dresses, and honeymoon destinations. But couples who are engaged should also think about whether they will need a prenuptial agreement before they get married. When it comes to divorce, one of the leading causes of divorce involves financial disagreements. Unfortunately, some couples wait until financial disagreements arise to talk about money matters. Before you get married, consider bringing up finances by discussing whether you and your partner should sign a prenuptial agreement.
Prenuptial agreements can be tough to discuss because couples sometimes think of them as contracts that say who will get what during a divorce. And who wants to talk about divorce while planning a wedding? However, few couples realize that a prenuptial agreement is more than all that. According to the Spruce, a prenuptial agreement is really just a contract that stipulates how a couple will manage their finances. Whether you make $50,000 a year or $5,000,000 it is always a good idea to enter a marriage with a good understanding of how money will be handled. This can not only protect your marriage, but also ensure that you and your partner do good financial planning ahead of time.
However, there are cases where couples should seriously consider a prenuptial agreement. For example, if you have children from a prior marriage and want to ensure that they are supported should you pass away or should the marriage end, a prenuptial agreement can ensure this. If you own a business, a prenuptial agreement can make clear what each partner’s assets are. Whether you plan to combine assets or keep them separate, a prenuptial agreement can be an important aspect of your business planning.
Prenuptial agreements can also be useful because individuals are getting married when they are older. If you are 30 or 40 and are getting married for the first time, you might have amassed some significant assets. A prenuptial agreement can make clear what belongs to you and what belongs to the marriage.
If a prenuptial agreement just sounds too unromantic, Bankrate notes that couples also have other options. Couples can choose to keep separate bank accounts, real estate in their own names, or engaged couples can set up revocable living trusts. These trusts can stipulate who gets what when you die, so that estate law doesn’t automatically pass your assets on to your spouse. If you have children from another marriage, this may be important to note.
Estate planning, prenuptial agreements, and financial decisions are a key aspect of any working marriage, whether you have many assets or few. It is important to get your financial planning right before you get married. Consider speaking to Sandy Becher, P.A., prenuptial agreement lawyers in Miami, Florida. Our firm can help you draft an agreement that is in accordance with the law, that will protect your assets, and allow you and your future spouse to plan properly for your financial future together. Visit us at https://sandybecher.com/ to learn more.