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What are some advantages of prenuptial agreements?

Marriages are usually thought of as romantic and emotional relationships, and that is no doubt a correct way of looking at them. But marriages are also economic and maybe even business relationships where both parties make sacrifices to benefit the couple and family as a unit. The economic nature of a marriage may have a greater or lesser degree of importance depending on the people involved and what stage of live they are at.

Many Miami-Dade County couples choose to emphasize the importance of the economic aspect of their relationship by forming prenuptial agreements before marrying. Prenups have a reputation for not being very romantic, and some think of them as making divorce a foregone conclusion. But prenups also have many benefits. Some couples may choose to take advantage of these benefits; others may choose not to do so. Still, it is worth reviewing some of the advantages of prenuptial agreements.

If a spouse has children and grandchildren from a previous relationship, a prenuptial agreement can protect the inheritance rights of those children and grandchildren from being usurped by the parent's spouse. A prenuptial agreement can also clarify who would assume any debt obligations, so if one spouse has incurred a great deal of debt, the terms of the prenuptial agreement could provide that the other spouse would not incur that debt upon divorce.

Business owners can specify whether the non-business-owning spouse gets any part of the business upon divorce. If a spouse entered marriage with no stake in a business, the prenup can provide that that spouse gets no stake in the business if a divorce happens.

There are many more benefits to prenuptial agreements. A family law attorney can tell a client exactly what the pluses and minuses of a prenup might be in a specific situation.

Source: FindLaw, "Pros and Cons: Premarital Agreements ("Prenuptials")," accessed on March 26, 2017

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