January 23, 2014 /24-7PressRelease/
-- It is common that when planning a wedding and marriage, Fort Lauderdale residents are not necessarily focused on protecting against a divorce. Such thinking can seem to be counter to the entire process of preparing for marriage. However, the reality of our world today gives good reason to consider a prenuptial agreement
Consider these facts:
- More mid-life (or beyond) marriages: More and more people are marrying later in life, when they have more assets to protect. This can be especially important for marriages where one or both spouses have children and even potentially grandchildren already that they wish to leave money or other property to.
- Increasing concerns about retirement: With a greater number of Americans concerned about providing for their retirements, the need to protect such funds or other ability to achieve those funds has brought prenuptial agreements to a new level of popularity.
- Business interests need protection: A spouse with an interest in a business should consider not just himself or herself but the business overall. Taking a risk on losing the business and potentially harming others that may be involved is simply not wise.
In years past, prenuptial agreements were thought to be needed only by the extremely wealthy. Today, however, more people than before are finding how they can benefit by these contracts. In the unfortunate event of a divorce, property division
can be made dramatically simpler if such an agreement is in place.
When could a postnuptial agreement be useful?
Let us imagine that you and your spouse got married without a prenuptial agreement and that both of you worked and had relatively high incomes. Fast forward a couple of years and you want to start a family. As part of this phase of your life, you jointly decide that one of you will quit your job to stay home with the baby and any subsequent children you may have.
If the spouse that leaves a job currently is earning $100,000 per year, the chances that he or she will earn that much upon reentering the workforce numerous years later is relatively slim, especially at the outset. With that in mind, a postnuptial agreement can provide great protection for the stay-at-home parent against a dramatic slide in living style and income should your marriage end.
Some basic tips
Whether you choose a prenuptial or postnuptial agreement, ensuring that your document is legally binding and in writing is a must. Make sure that both partners work with independent attorneys when drafting the contract to avoid any conflict of interest. Make sure also to work only with an attorney with specific experience in this area so that you know your agreement is the best it can be.
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