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Prenuptial agreements can help protect assets

Though it seems to rob the union of marriage and holy matrimony of its romantic and loving blissful charm, having a prenuptial agreement in place can mean the difference between a couple who are stuck in divorce court for years and haggling over every little thing, and having a relatively quick and straightforward divorce that protects the assets of everyone involved. With so many marriages ending in divorce, many find it is prudent in this day and age to be ahead of the curve so to speak and be proactive, rather than reactive.

Most of our Florida residents will agree that, typically, the salient issue in many divorces centers on who is entitled to keep what in terms of property division and assets. This is especially true of high value asset divorce cases where a lot can be at stake, and spouses can inadvertently lose valuable assets that they are entitled to if they're not careful and plan adequately for such eventualities. For those couples that run a business together, having a prenuptial agreement in place may alleviate concerns surrounding what might happen to the business if their marriage ends.

It is important to note that prenuptial agreements are typically used to delineate how property and other financial assets are to be divided between the spouses in the event that the marriage comes to an end. It can also be used to predefine how much spousal support a spouse will receive in the event of a divorce. Prenuptial agreements can also be used to provide for a spouse in the event of a death of the other spouse, thus protecting and providing for a spouse's financial wellbeing when their loved one passes on.

Discussing the need for a prenuptial to protect assets in the event of a divorce may be difficult for many couples, but having a honest discussion about it with each other and seeking the legal counsel of a family law attorney may help couples make a decision as to whether a prenuptial agreement is right for them.

Source: Forbes, "Business And Marriage Do Not Go Together Like A Horse And Carriage," Steve Parrish, Aug. 17, 2015

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