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Five Reasons You Need a Pre-Nup

A prenup is an agreement made in contemplation of marriage which defines certain rights and obligations of the respective parties during the prospective marriage, in the event of a termination of the marriage or upon the parties’ death.

Why do you need an Orlando prenup?

Here are 5 reasons why you need a prenup.

1. You have substantial assets you want to protect.
2. You want to protect a business that you own.
3. You already own a house in your name and want to protect that ownership.
4. You want to protect your retirement accounts.
5. You want to limit the amount of alimony you would have to pay.

You can protect your assets by hiring attorney to prepare a prenuptial agreement. However, make sure that your spouse that is signing away their rights in the prenup has a full understanding of your net worth. The easiest way for your spouse to set aside a prenup is by he/she claiming there was not financial disclosure. This can be satisfied by preparing a certificate of compliance with mandatory disclosure, or submitting a detailed statement of your net worth prepared by your CPA.

It is also important to prepare the Orlando prenup well in advance of the wedding. The closer the prenup is to the wedding, the better the argument for the spouse to say that he/she was pressured into signing it at the last minute.

It is better if the signing spouse also has an attorney. That way he/she cannot argue that he/she did not understand the document. That way he/she cannot argue that he/she was pressured or coerced into signing the document.

A Prenup will not hold up in court if:

1. It was not voluntary.
2. It was the product of fraud, duress, coercion, or overreaching.
3. It was unconscionable when it was signed and before it was signed.
4. There was not fair and reasonable disclosure of property and financial obligations.
5. That the party did not voluntarily and expressly waive, in writing, any right to disclosure of the property and financial obligations of the other party beyond the disclosure provided.
6. That the party did not have, or reasonably could not have had, an adequate knowledge of the property or financial obligations of the other party.

If you are in need of finding out more about an Orlando prenup, or having one prepared, you may contact Ann Marie Gilden, Esquire of Ann Marie Giordano Gilden, P.A. at 407-732-7620 for an initial consultation.

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