A prenuptial agreement refers to a contract that is legally bonded. It deals with the details on how you and your spouse would divide the assets if you undergo divorce in the future. These prenuptial agreements are very helpful if one has a business or any other property that one knows and acquires before the marriage.
Who all needs a Prenuptial Agreement?
On a contrast to the most popular opinions, these prenuptial agreements are not just rich. These prenuptial agreements are used to protect the assets of a wealthy fiancé or couples those who are of the modest means from increasingly turning towards them for the benefits or purpose. The main reason why some people wants a prenuptial agreement as per the divorce attorney in Davie are:
- Passing the separate property to children before marriage: A marrying couple with children before marriage can use a prenuptial agreement for spelled out what will happen to their property after their death so that they can pass on the separate property to their kids apart from providing for each other if required. Without a prenuptial agreement, the surviving spouse has the right to claim for s large portion of the property of the other spouse leaving less for the kids.
- Clarifying the financial rights: The couples with or without any kids despite their financial aspects may need to clarify their financial rights and responsibilities during the marriage.
- Avoid arguments in case of divorce: The couples may avoid potential arguments and uses of they ever get divorced if they have a prenuptial agreement. This specifies in advance how the property shall be divided and whether or either spouse shall receive alimony.
- Get protection from debt issues: As per the divorce attorney in Davie, the prenuptial agreements can be used for protecting the spouses from each other’s debts. They may even address a multitudeof other issues as well.
What happens in the absence of a prenuptial agreement?
Legally, marriage is considered as a contract between the marrying couple with automatic property rights for each spouse. The divorce attorney in Davie states that on the absence of a prenuptial agreement, a spouse usually has the right to :
- Share the ownership of the property that is acquired during the marriage with an expectation of dividing the property between the spouses in the event of divorce or at
- Incur the debts during the marriage that the other spouse may need to pay off.
- Share in the management along with the control of any marital or community property that may include the rights to sell it or give it away.
If these laws that are referred to as marital property, divorce and probate laws been not that would suit you, then it is recommended to look for the prenuptial agreement. This prenuptial agreement one to decide for themselves how the property needs to be handled.