Prenuptial why

Like any contract, violation of the agreements or improper execution in its creation and signing will render the contract invalid. Decisions made about the division of assets outside the heat of the moment or the complexities of divorce tend to be fairer to both parties. A prenup helps couples avoid expensive, emotionally exhausting, and drawn-out legal battles in the case of a divorce. However, a prenuptial agreement can serve many functions apart from the division of assets in the case of a divorce.

While their primary function of protecting assets is an important one, they can also:. An important reason to have a prenuptial agreement is to protect the inheritance of children from another relationship.

You may want to have your property pass to your previous children upon your death, instead of it transferring to a spouse under state law. Prenuptial agreements allow you to make these arrangements from the very beginning.

We can help guide you through the process, so you can feel confident in the terms of your agreement. Your email address will not be published.

Reason 9- A prenup can protect a financially weaker partner. Many people assume prenups are about protecting the wealthier partner, but they can also offer protection for spouses who are not well off before the marriage or earn far less than their spouse.

A prenuptial agreement can be used to ensure the financially weaker spouse receives alimony or sufficient assets in a divorce and is not left destitute. Reason 10 — You are remarrying. When you remarry, your legal and financial concerns are often very different than in your first marriage. You may have children from a previous marriage, support obligations, and own a home or other significant assets.

A prenup can ensure that when you pass away, your assets are distributed according to your wishes, and that neither your first family, nor your new family are cut off. Reason You want to protect a specific asset. A prenup can also be used to protect specific assets. In Ontario, this would most often be a matrimonial home, as matrimonial homes are treated differently than other assets. But it need not be a home — it could be a pension or something else of value. Reason You want to give up something for your spouse.

A prenup can be used for more than protecting the assets of a wealthy spouse; they can also help protect the interests of a spouse who gives up a career or otherwise makes financial sacrifices for the other spouse. For example, this can be used to protect a spouse who gives up a career to stay home and raise children or a spouse to supports the other financially while they attend school.

In these cases, the prenup can offer protection by guaranteeing the spouse receives compensation for this sacrifice if the marriage ends. Reason Build a firm foundation for marriage. Finances are a leading cause of divorce, whether it is due to financial struggles during the marriage, concealed financial problems of one spouse, or some other cause.

Sitting down to create a prenup requires both parties take a good look at and reveal their full financial situation. This open discussion about finances can help build a strong foundation for marriage. Many people find themselves trapped in an unhappy relationship because they are not financially strong enough to leave. A prenup can give both spouses the financial protection they need to end a marriage that no longer works.

Reason It can reduce pressure on the relationship. A prenup acknowledges that the marriage may end, but this can work to reduce stress on both spouses. The prenup can clearly lay out what will happen in the event the relationship ends and give each spouse the financial protection they need to understand that their lives will not be destroyed by a divorce.

This can work to relieve stress on the relationship and improve honesty. Reason It protects both spouses from an unfair settlement. Everyone has heard a divorce horror story, such as a man who lost most of his pension and home in a divorce after a short marriage or a woman who stayed home to raise children for decades only to be left for another woman with no job skills or work history.

A positive feature of a prenuptial agreement is it is created when everyone is happy in the relationship for a solid and fair arrangement. If you are planning to draft a prenup, do not do it yourself to avoid the risk of your prenuptial agreement being voided by a Florida court.

You need legal assistance from a skilled Florida prenuptial agreement attorney to help you draft a valid and enforceable prenup that will set forth financial expectations for both parties. In Florida, if you hide the existence of certain assets and income from your spouse and fail to disclose them on your prenuptial agreement, the prenup can be nullified by a Florida court simply because it contains false information regarding your assets.

It is vital for both parties to disclose everything they own when drafting a prenuptial agreement. One of the biggest risks you face when drafting a prenuptial agreement on your own is having a prenup that is not properly executed. Florida courts recognize prenups that are in writing and signed before the wedding. Thus, if your prenup is an oral agreement or it was signed after the wedding, it is not properly executed and would not be deemed valid by a judge. Also, Florida law requires that you sign a prenuptial agreement in the presence of two witnesses and a notary if the prenup contains real estate holdings.

Signing a prenup before a notary and two witnesses would prevent the other party from saying that their signature was forged or that they signed under duress.

Reality makes you realise that you can never predict the future or how people will behave when a marriage goes sour. Stop over analysing it. So just sign the damn thing. If prenups were promoted like the first two paragraphs then they would be wildly popular. Licensed marriage is a legal contract that exists to compensate couples to conceive and raise those children. Which makes conception-less marriages something akin to government supported prostitution.

You can decide to be married, without license, anytime you want. There is no law against it. And like the article is saying you can divorce anytime on your own predetermined terms without the need to adhere to the governmental defaults. Hello, this article was very helpful , Thank you!

Moved from Russia to USA and got marriage, seven years later walked away from unhealthy marriage with only my clothes and my kid…. Started building my life all over, bought the house , have being putting money to saving account. I make more then middle class person, now I have being dating same guy for over 3 years and we got engaged. He is 11 years older, has growing up kids, grandkids , more wealthy then me. He wants me to get prenup, sell my house and move with him, to his house. But his house after his death would go to his kids and grandkids, that would leave me nowher.

My sister recently got engaged, and her fiance has a tremendous amount of credit card debt. A Gold Digger wants every man to believe she is head over heals in love while she is eying his assets. Prenuptial Agreements. Do It Yourself Prenup. Related Posts. Emelia Veinotte. One aspects of pre-nup that has always been neglected in child custody. Take Two. Alll Girls are crazy and cant be trusted.

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A pre-nup is just like having a life insurance policy. Just sign it. Does taking out life insurance mean you intend to commit suicide? Get a life people.