Unexpected Reasons to Get a Prenuptial Agreement
Prenuptial agreements (“prenups”) have long suffered from a number of myths, such as the assumption that you only need one if you have a large trust or piece of real estate to hold onto. In reality, prenups are on the rise amongst everyone, and you might very well be surprised at some of the novel ways in which people use them, as we discuss below.
To Circumvent Equitable Distribution
One such reason might just be to level the playing field, so to speak, and make sure you are on the same legal footing as you were before you got married. So for example, in Florida, property distribution in the event of divorce is based on equitable distribution (not to be confused with “equal”). While the courts ideally seek to split things evenly, in reality, they have a myriad of factors that they can use in deciding how to split property; i.e. on justifying unequal distribution based on factors such as contributions from each spouse to the marriage (including towards child rearing), the economic circumstances of the parties, the duration of the marriage. However, you can prescribe how you want property to be distributed in the event of divorce in a prenup, circumventing the potential for equitable distribution laws to make adjustments.
Student Loans, Pets, Business Interests, and More
Some of the other issues people will address in prenups include but are not limited to:
- Student loans: if one spouse helped pay off the other spouse’s student loans (with marital funds, etc.), they may want to be reimbursed;
- The family pet: people will sometimes address custody and care issues for their pets in prenups because courts are unlikely to enforce pet custody arrangements;
- Your frozen eggs or sperm: A number of couples these days are freezing their eggs or sperm with the hopes of eventually starting a family. If this is the case for you, you will need an agreement detailing what happens to those materials in order to ensure that they are not one day used without your permission and/or so that, if you do want to use your own frozen eggs or sperm, you do not first need to obtain the signature of your ex;
- Business interests: in case you are concerned about your business potentially being split/sold off/etc. in the divorce;
- You are concerned about earning potential possibly changing at some point.
Contact Our Florida Family Law Attorneys
You would be amazed at what prenups can do for you in terms of helping to secure your future and provide you with peace of mind. Contact our Florida family law attorneys at the office of William Wallshein, P.A. today to find out how we can help you get started with the proper planning and protection plans.