When you are about to marry, you no doubt have many things on your mind other than drafting a premarital agreement, often called a prenuptial agreement.
However, if you and your intended can redirect your focus for a bit, there are a number of good reasons to create a prenuptial agreement, beginning with the matter of property rights.
About prenuptial agreements
Prenuptial agreements are not only for the wealthy. Couples of all income levels find a sense of comfort and order in creating agreements that protect their assets when marriage is on the horizon. In the state of Florida, divorcing couples face an equitable distribution of their marital assets. As long as no comingling of the assets addressed in the prenup occurs during the marriage, they do not have to appear in the divorce settlement agreement.
What the prenup may include
The focus of a prenuptial agreement is usually on the rights and responsibilities of each party with respect to the property, such as the right to use, buy, sell, encumber, dispose of or otherwise control a particular kind of property. The prenup will go on to address the disposition of property in the event of a divorce or the death of one of the parties.
Rules about signing
Signing a prenuptial agreement must not be a hasty, last-minute activity prior to marriage. Ideally, a period of at least six months should elapse between the signing and the wedding. The agreement should not lean more toward the goals of one party over the other and neither party should be coerced into signing. When the agreement focuses on fairness and objectivity, it can set guidelines for property matters and resolve potential problems in an upcoming marriage.