When it comes to divorce, there are many proceedings that could become tedious and time consuming. Property division is one of the most common areas in which Florida residents can face disagreements and continued negotiations in hopes of getting what they want. However, there are steps individuals could take even before tying the knot in order to potentially avoid this strenuous situation.
Creating a prenuptial agreement can provide a multitude of benefits in the event of a divorce. Individuals can address assets, debts, inheritances and other issues that could cause conflict later on. If there is a prenup in place, individuals may be able to maintain ownership of designated property and, by specifying liability, avoid being saddled with a soon-to-be ex's debt problems.
A prenup can be particularly useful for inheritances. If individuals are remarrying and have children from previous relationships, they likely want to protect what may one day be their children's property. Therefore, addressing that information in a prenup can ensure that an ex-spouse does not end up with assets that were meant for the children.
Though many Florida residents may enter into marriages with stars in their eyes, thinking that they will never get divorced, it is a situation that could happen to anyone. Therefore, being prepared even if the event seems unlikely could save time and stress in the future. Information on creating a prenuptial agreement and other issues pertaining to property division may help interested individuals feel more secure in their futures and other endeavors.
Source: thestreet.com, "6 Reasons to Put Aside Sentimentality and Get a Prenuptial Agreement", John Persinos, April 9, 2016