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The importance of a prenuptial agreement when remarrying

Florida residents who are thinking of remarrying might also be wondering if a prenuptial agreement is right for them. There are many benefits to having a clear prenuptial agreement, particularly if there are children from previous marriages involved and the prospective spouses want to prevent any disputes later on.

Prenuptial agreements can be the key to avoiding disputes when goods are being divided after a death. Most types of goods, from a family business to an art collection to actual cash, can be listed in a prenuptial agreement. However, the agreement must include a clear, detailed list of all the items meant to be protected for it to be effective. Any items left off the list might then be involved in a future dispute.

A prenuptial agreement should ideally be written up before the wedding, and both prospective spouses should completely understand what they are agreeing to before it is signed. When a couple delays signing a prenuptial agreement until after the wedding, it becomes a postnuptial agreement, which also somewhat decreases the leverage one spouse has for getting the other spouse to sign the agreement. Once a prenuptial agreement is signed, the couple still needs to adhere to the way property ownership was set in the agreement since ownership of an asset is partly determined by the origin of the funds used to purchase it, so couples need to avoid commingling all their assets.

Couples in Florida who are remarrying, have children from previous marriages and are interested in writing up a prenuptial agreement might consider seeking guidance from a lawyer with experience in family matters since laws for each state are different. Writing up a detailed list of assets and indicating specific inheritance intentions might be what prevents a dispute over assets once one of the spouses dies.

Source: CNBC, "Remarrying? Shower kids with love, and a good prenup," Constance Gustke, Feb. 12, 2015

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