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Tips when entering prenuptial agreements

Slowly but surely prenuptial agreements have become something couples who are engaged find themselves considering when they decide to get married and prepare to merge their lives together. Florida residents considering a prenuptial agreement probably realize that bringing the subject up for consideration is easier said than done, however.

Nevertheless, for some couples, such as those with significant assets and wealth, as uncomfortable as it is not even considering the option can turn around and potentially become a costly mistake later down the road. It is important for those considering prenuptial agreements to get the most accurate information about their options, and perhaps seek the advice of a financial advisor.

A good financial advisor can explain the benefits of having a prenuptial agreement. Oftentimes a financial advisor can help make the subject of prenuptial agreements between couples easier to discuss. If after discussing it further a couple decides that having a prenuptial agreement is a good idea, generally they would then both meet with the financial advisor individually so that they can go over the financial aspects of such an agreement. It's important to keep in mind that a financial advisor is not a couple's counselor. The advisor's role is to understand what the couple's goal is in the event the marriage result in a divorce. Then, by explaining the financial details of their goals, the advisor can help the couple understand the meaning of the prenuptial agreement on a practical level. These agreements can be extremely helpful, but they must be done right.

Source: Financial Planning, "Advisors: Prenup Pitfalls to Avoid," Donald Korn, March 3, 2014

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