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Conversations about prenuptial agreements awkward but advisable

| May 1, 2015 | Prenuptial Agreements |

The media reports regularly on celebrity marriages and divorces and the use of prenuptial agreements to determine the division of assets. However, any Florida couple considering marriage may want to deal with the sensitive issue of a prenuptial agreement before the wedding in order to minimize possible disputes in the event of divorce or separation.

Statistics indicate that many individuals believe that prenuptial agreements are important for other people but not necessary for themselves. It is often difficult to even raise the subject of a prenuptial agreement during the romance and excitement of wedding planning. But a prenuptial agreement is one of the primary asset protection tools available to protect both spouses if the relationship fails.

A prenuptial agreement may be particularly important for a woman, who often earns less than the man in a relationship. It is often used as a way to acknowledge the financial value of the contribution made by the partner who spent time raising the children and maintaining the home. Prenuptial agreements are not only for the rich. Many people enter into a marriage with substantial amounts of student loans or credit card debt. A prenuptial agreement can provide an allocation of the debt and specify whose income will be used to pay each obligation.

Individuals generally do not enter into a marriage with the expectation of divorce or separation. However, given the high rate of divorce in the United States, a person who is planning to be married may be well-advised to discuss the issue of a prenuptial agreement with his or her future spouse. Such a person may also want to consult an attorney to review the proposed prenuptial agreement to ensure that it complies with applicable law.

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