Make The Divorce Process Simpler

  1. Home
  2.  – 
  3. Prenuptial Agreements
  4.  – Who should consider a premarital agreement?

Who should consider a premarital agreement?

On Behalf of | Jan 5, 2015 | Prenuptial Agreements

In reality, any couple can enter into a premarital agreement and one or both sides may benefit from the contract. While a major reason many Florida couples enter into such agreements is financial, you could also use a premarital agreement to outline expectations such as care for children of previous marriages or where the couple will settle in retirement years.

Bankrate provides a number of situations and conditions that might make prenuptial agreements especially helpful to one or more people in a marriage. Individuals who enter a marriage already owning assets such as retirement funds, stocks or real estate can use prenuptial agreements to protect ownership of those assets. The same is true for business owners or those expecting an inheritance.

Individuals who have children from a previous marriage may want to use premarital agreements to protect the interests of those children, including with regard to inheritance of assets owned by the individual before the marriage. In fact, anyone with dependents to support, include children, grandchildren or elderly relatives, may want to consider a prenuptial agreement, says Bankrate.

A person who will be unequally yoked financially may also want to consider an agreement. Whether you are entering the marriage much wealthier than your counterpart or with the potential for wealth, an agreement can protect you financially and even provide some peace of mind for a partner who may rely on you. Examples of potential for future income might include someone who is in medical school; if you are planning to support someone else through schooling during the early years of a marriage, then a prenuptial agreement might ensure you don’t lose that investment in a divorce.

Many couples see a premarital agreement as a defeatist approach to marriage. It’s important to realize that contractual agreements the wedding can actually strengthen a marriage, though, and provide peace of mind for both parties.

Source: Bankrate, “Everything you need to know about prenuptial agreements” Jan. 04, 2015