If you’re considering a prenuptial agreement, it’s important to understand what it covers and how the court will enforce it in a divorce. By creating a prenuptial agreement through a family law attorney pinellas county you can work out an agreeable arrangement with your spouse, rather than leaving the final arrangements up to the court.
A prenuptial agreement is created before marriage and goes into effect after a couple gets married. It’s an agreement between spouses that outlines how the couple will handle financial issues, assets and debts in a divorce. Not everyone wants a prenuptial agreement, but they can be beneficial in certain situations. Couples who have children from a previous marriage can protect the children’s future inheritance. If one spouse owns a business, owns a house or property, or has substantial assets, he/she can protect those assets if the couple divorces.
A prenuptial agreement usually addresses the following issues in a divorce:
- Ownership of property by each spouse upon divorce
- The rights of each spouse to manage, use, transfer, sell, or dispose of property
- The obligation of each spouse to create a will to execute the terms of the agreement
- The ownership rights of each spouse to a death benefit from a life insurance policy
- Alimony payments by either spouse after a divorce, including amounts and duration of payments
- State laws that apply to the agreement in case of a dispute between spouses
Typically, prenuptial agreements do not cover any child custody or child support issues. Because child … Read MoreRead more