When To Consider Getting A Postnuptial Agreement In Pinellas County
Postnuptial agreements are similar to a prenup but are entered into after you are married. They address many of the same issues, including rights regarding money and property, basic estate planning, and how financial matters are resolved in the event of a divorce. The following are four situations where you should consider putting a postnuptial agreement in place.
- You Never Got A Prenuptial Agreement
Under the Florida Statutes, a prenuptial agreement is considered a legal contract entered into by a couple prior to getting married. It details each party’s rights and responsibilities regarding property and assets in the event something happens to either one or they end up getting a divorce.
A prenuptial agreement can help strengthen your marriage. By encouraging clear communications about money, disclosing outstanding debts, revealing general attitudes towards financial matters, and clarifying goals regarding lifestyles, it can help avoid disputes later. If you never took the time to create one before you legally wed, a postnuptial agreement allows you to do so at any time after.
- You Inherited Money Or Property
If you come into a large inheritance, creating a postnuptial agreement is a good idea. It specifies any real estate, personal property, or money received and helps to protect it for future beneficiaries. This can be particularly important if items have been passed on through multiple generations, you have a large family, or have children from a prior marriage.
- You or Your Spouse Has Started A Business
Starting a business is a common goal for many people. It typically requires a large investment of time and money, and while there is the potential for significant profits, it can also result in major debts. Creating a postnuptial agreement helps to protect your spouse in this situation, clearly defining financial responsibility in regard to the business and preventing them from being subject to creditor claims.
- You Were Going To File For Divorce But Decided To Reconcile
If you previously were considering divorce but decided to reconcile, a postnuptial agreement is a must. It can clarify some of the prior problems in your marriage, reflect agreements you and your spouse made in resolving them, and specify what happens if one of the parties fails to adhere to reconciliation terms. It is particularly important if your spouse previously engaged in affairs or other marital misconduct.
While not considered grounds for divorce, their behavior could entitle you to a greater settlement in the Pinellas County Family Court. However, once you agree to a reconciliation, you will no longer be able to bring up past behavior in future divorce proceedings.
Consult Our Pinellas County Pre and Postnuptial Agreement Attorney
Getting a pre or postnuptial agreement protects your rights and can help strengthen your marriage. At the Reep Law Firm, we can guide you through the process of creating these and other types of legal documents. To request a consultation with our Seminole pre or postnuptial agreement attorney, call or contact us online today.