Marriages in Florida are often more complicated if one or both of you have experienced a divorce. You may have children from your first unions and more assets than when you were younger. Changing beneficiaries on your insurance policies and pension plans to ensure heirs of your choosing receive the proceeds is often taken care of through an administrator. However, if you have a business, family heirlooms and financial concerns, you might benefit from a prenuptial agreement.
According to U.S. News & World Report, a prenuptial agreement is a contract that details the division of assets if a couple divorces. If you and your partner are marrying for a second time, you may benefit from having an agreement in place before your wedding.
A prenup can protect you from taking on the responsibility of your spouse’s debt. It requires the commitment of both parties to full financial transparency. Discussions about spending patterns, credit scores and credit cards help you gain a full understanding of what your partner brings to the relationship. With student loan debt at an all-time high, no one wants to find themselves paying for their ex’s grad school.
Family heirloom protection
If you have artwork, jewelry or collectibles that have been in your family for generations, they have significance and sentiment above and beyond fair market value. Through a prenup, you can address which property remains separate if you and your spouse divorce, ensuring it stays in the family.
You are older and wiser today than when you married the first time, and your life may look very different than it did in your 20s and 30s. Signing a prenup can help you protect assets and secure your future, even if you dissolve your marriage.