Three Benefits of Prenuptial Agreements
Prenuptial Agreements are a great way to protect assets when a marriage ends, but they are not just useful in times of divorce. They can act as agreements to protect your assets during a marriage as well as after it. They serve to be a legal agreement between husband and wife with regard to the assets that are mentioned in the prenuptial agreement, and go into effect the moment the marriage occurs.
Some of the assets that can be protected include future earnings, personal property, and other forms of property whether it is tangible or intangible. It should be noted that prenuptial agreements cannot affect the rights of a child to be supported.
How Can a Prenuptial Agreement Help You?
Protect Your Assets
In Florida, you can legally use a prenuptial agreement to restrict the other party’s ability to buy, sell, or use your property. Essentially, you can use the prenuptial agreement as a tool to restrict the other party from attempting to manage or assert control over your property.
It is important to assert this right as your spouse may have an undue effect on your rights in private business or corporations, as well as other business assets that can be unintentionally affected by a marriage. This legal barrier can also be used as a shield to protect against business lawsuits that attempt to pierce the corporate veil in an attempt to reach your personal assets.
Reduce or Eliminate Your Need to Pay Spousal Support
Though prenuptial agreements cannot reduce or eliminate the need to pay child support, they can be used to eliminate spousal support. This is highly important as it keeps you from having to pay large sums of money to a person with whom you no longer have a relationship.
Protect the Disposition of Property
Even if you do not want to terminate the other party’s right to your property, you can use a prenuptial agreement to establish the ways that the other party can dispose of your property. This type of contractual agreement allows you to manage your assets in a responsible way that protects those assets for you and your children.
Remember that there are specific requirements that must be followed when executing a prenuptial agreement. These requirements, as well as the technical language that will protect you, need to be crafted by an attorney who has experience with prenuptial agreements.
Get Help Today
The attorneys at the Law Firm for Family Law are happy to speak with you about your needs and to help you protect your assets. We can be reached today at (727) 531-8737.