Pros and Cons of a Prenuptial Agreement
Ask one group of people and they will tell you prenuptial agreements doom a marriage before it gets started, while another group will tell you to never tie the knot without one. Many people find themselves stuck in the middle wondering if a prenup is right or wrong for their relationship. While our Sarasota, Bradenton, Lakewood Ranch, and Venice, FL divorce attorneys cannot make that decision for you, Sarasota divorce attorney Matthew Z. Martell can provide insight into the pros and cons of that decision.
Couples sign prenuptial agreements more often today than in the past— these days focused more on the “what ifs” in life. Couples marrying for a second time are twice as likely to execute a prenuptial agreement before saying ” I do” again. Without a prenuptial agreement, marriage is scary for some individuals. Despite the idea that only the rich and famous need prenuptial agreements, every couple, regardless of their financial status, benefits from having a prenuptial agreement in place.
Talk to a high rated and experienced divorce lawyer Sarasota, Bradenton, Lakewood Ranch, FL for more information about prenuptial agreements. He or she can answer your legal questions and otherwise assure you that a prenuptial agreement is the right agreement for you to sign. Working for your best legal interests, Sarasota divorce attorneys such as Matthew Z. Martell protect what is rightfully yours after marriage. Without this agreement in place, a marriage means that you split everything with your spouse 50/50. That is all well and good if you are married, but when if you separate and get divorced, then trouble begins.
What is a Prenuptial Agreement?
A prenuptial agreement is a contract made between a couple before marriage that stipulates how the couple will handle various financial aspects of their union. This agreement establishes property rights, spousal support, and attorney’s fees and costs reimbursement of both persons in the event they get divorced.
Interestingly, as a historical side note, before the Married Woman’s Property Act of 1848, any woman entering a marriage was required to sign a prenuptial agreement. Without a prenuptial agreement, everything a woman-owned transferred to her husband, including inheritances. Obviously, things have changed significantly since this time.
Prenuptial Agreement Pros
Most couples marry when the relationship is great. Divorce is the last thing on their mind. However, a prenuptial agreement does not suggest that a person has divorce on their mind, but instead, actually shows maturity since they are taking precautions to protect themselves.
Additional prenuptial agreement benefits include:
- Discuss important financial matters before marriage
- Preserve family inheritances
- Protect yourself against financial loss and difficulties
- Limit the amount and put a time limit on future alimony and attorney’s fees and costs
- Protect a business
Prenuptial Agreement Cons
The biggest prenuptial agreement disadvantage is that your partner may look at it as you are planning for divorce before the marriage even gets off the ground. It may cause friction between couples when one person feels like this. It can also appear that one person does not trust the other when they ask a partner to sign a prenuptial agreement. Usually, these things are opposite of the reason a person asks for a prenuptial agreement before the marriage, but nonetheless they are valid feelings.
Other disadvantages of signing a prenup include:
- You may have limited capabilities in future financial situations
- Your partner may have a lack of trust
- Your partner may feel that the agreement is unfair
Always discuss prenuptial agreements with a very good divorce attorney in Sarasota, Bradenton, Lakewood Ranch, and Venice, FL like Matthew Z. Martell before entering into one. Such a lawyer can provide you with useful information concerning prenuptial agreements that allows you to make the best decision in your relationship as to whether you need one or not.
Should you decide to create a prenuptial agreement, the Sarasota, Bradenton, Lakewood Ranch, and Venice, FL divorce attorneys near you at the Law Offices of Matthew Z. Martell, P.A. can help you with this process. You always need a highly reviewed and experienced divorce lawyer to provide his or her legal guidance and expertise when drafting a prenuptial agreement. Contact the Law Offices of Matthew Z. Martell, P.A. at (941) 556-7020 for a free initial 30-minute phone consultation if you need prenuptial agreement assistance.