Things to consider before asking for a prenuptial agreement

Many Florida residents may find valuable the knowledge that data provided by the American Academy of Matrimonial Lawyers shows that 63 percent of divorce attorneys have reported an increase in prenuptial agreements in the last three years. Given their increased usage by the general public, one author has three pieces of advice for anyone who may be considering having a potential spouse sign a prenuptial agreement.

First, he asks that people keep in mind that prenuptial agreements may be hard to talk about. Since relationships are supposedly built upon love and mutual respect, some people may construe being asked to sign such a document as mistrust. In addition, it's important to exercise a delicate touch while discussing an agreement's details.

The author notes that many people who are considering a prenuptial agreement do not necessarily need one; according to an AAML spokesman, people who make less than $100,000 a year may not possess sufficient assets to justify an agreement. However, negotiating a prenuptial agreement may be a good opportunity for a couple to be open with one another about their financial situation and other assets.

Property division can be one of the most contentious issues of any divorce. A properly prepared prenuptial agreement may be able to mitigate the threat of arguments by clearly delineating property lines in advance of marriage. By crafting an agreement that is mutually satisfactory for both parties, couples may be able to move forward with their marriage while secure in the knowledge that their assets are properly cared for.

Source: Reuters, "YOUR MONEY-Three things to consider before you ask for a pre-nup", Geoff Williams, November 27, 2013

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