A prenuptial agreement spells out in clear language how the assets of both parties will be distributed in case a marriage ends due to divorce or death. Although most couples do not want to spoil the romance by talking about prenuptial agreements, they often make good financial sense.
Prenuptial agreements protect the wealthy as well as those who want to maintain property assets or investments such as stocks and retirement funds. Agreements also protect people who have children or grandchildren from a previous marriage, and similarly, those who maintain responsibility for the care of an elderly parent. Further, people who expect to receive an inheritance should consider a prenuptial agreement.
Many couples enter into a prenuptial agreement when one partner possesses more wealth than the other, when one is a student preparing to enter the field of medicine or another high-earning profession, or when one partner works to put the other partner through college. Conversely, a prenuptial agreement can be leveraged if one partner maintains significant debt that the other does not want to take on.
An Attorney and Partner with Gladstone & Weissman, P.A., Legal Services in Fort Lauderdale, Florida, Jeff Weissman commands experience in a variety of marital and family law issues. Mr. Weismann has presented several seminars for the Florida Bar Family Law Section on subjects such as drafting prenuptial agreements, equitable distribution, and enforcement of legal obligations.