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Why Should You Consider Having A Prenuptial Agreement Prior to Your Wedding in the Orlando, Florida Area?

Having a prenuptial agreement in the Orlando, Florida area allows a person to determine and materialize how they wish to manage their finances during the marriage. You think about it and analyze this prior to your Orlando, Florida area wedding. A prenuptial agreement is a contract between two parties who plan to marry. The prenuptial agreement is signed before the parties marry. You should sign the prenuptial agreement several months before the wedding. You do not want to wait until right before the wedding to draft and or execute a prenuptial agreement. 

Florida Statute on Prenuptial Agreements

The Florida Statute on Prenuptial Agreements is Florida Statute 61.079-premarital agreements. In the prenuptial agreement, you and your future spouse spell out in the agreement how your assets, debts, money, pensions and income will be shared between you. Or you spell out if you do not share your money, income, assets, pension and liabilities. This allows you to protect your assets from claims by the other spouse in the event of a divorce. 

Prenuptial agreements can be extremely useful for spouses who marry later in life and have substantial assets. A prenuptial agreement can also help you protect your estate and potential inheritance for children of a first marriage, if this is your second marriage. 

When to Get it Signed

You need to make sure you get your prenuptial agreement signed several months before the wedding. The closer the prenuptial agreement is signed to the date of the wedding, the more there is a chance if you divorce, that the other spouse will say that they were under duress to sign the agreement at the last minute. Further, it is better to have complete and total financial disclosure. The more transparent you are about disclosing your finances, the harder it will be for the other spouse to set the agreement aside should you divorce. 

If both parties have an attorney while drafting the prenuptial agreement, there is less of a chance the other party can argue coercion, duress, or lack of financial information, if you should divorce. Prior to having a prenuptial agreement drafted, you should speak with your financial adviser and CPA. At a minimum, you should have your CPA prepare a net worth statement regarding all your assets and debts. 

If you have more questions regarding a Marital and Family Law matter, you may call Ann Marie Giordano Gilden at Ann Marie Giordano Gilden, P.A. at 407-732-7620 and set an initial consultation. 

This article is for informational purposes only and does not form an attorney client privilege.