You and your soon-to-be spouse have decided to put a prenuptial agreement in place before the big day. That’s a wise decision. You each should detail and protect the money, property and other assets that belong to you before you begin making purchases together and opening joint bank accounts.
However, there are some other things that you shouldn’t overlook. Your Florida family law attorney will help you determine what you should and should not include. However, your attorney doesn’t know what you don’t tell them.
Not all the following items will apply to you, but it’s worth considering which ones do and including the appropriate language in your prenup to address them.
Just as many couples have their own assets when they marry, they often have debt as well — and substantial amounts. Student loan debt, credit-card debt and personal loans can add up. It’s important for each partner to list their individual debt so that they don’t end up responsible for the other person’s liabilities
Usually, gifts that married couples exchange are considered marital property in a divorce. However, you can stipulate that the recipient gets to keep those gifts in a divorce. Note that engagement rings, which are given before the marriage, are considered property owned by the recipient at the time of the marriage. It’s advisable to have the ring appraised so that you can accurately list its value.
Many couples adopt one or more animals together before they marry. It may be wise to designate who will get them in a divorce. Currently, pets are still considered “property” under the law in Florida divorces, so if the matter is left to a judge to decide, that decision may not be based on what’s best for the animals.
If one or both of you is coming into the marriage with a business and/or children from previous marriages and relationships, you’ll also want to address these matters in your prenup. It’s essential that the document is as comprehensive as possible and that it’s written in accordance with the law. If it won’t hold up to a challenge, it’s barely worth the paper it’s printed on. Each of you should have your own family law attorney representing your interests as you draw up your prenup and ensuring that it’s properly drafted.