By Katherine Mish, Esq. of Treasure Coast Legal

It isn’t romantic to talk about a prenuptial agreement, but it is something couples should discuss before taking the plunge. A prenuptial agreement is designed to settle issues of support and property distribution in the event of divorce or for estate planning purposes. If you are considering a prenuptial agreement, here are a few things you may want to know about prenuptial agreements.

1. Not just for the rich and famous.

People often mistakenly believe that a prenuptial agreement is only for the rich or those with property prior to getting married, but this is untrue. Sure, it is more obvious what you will want to protect when you have it sitting in front of you, but what about your retirement or 401(k)? It may be small or non-existent when you are married, but what about five or ten years after beginning the plan? If you are getting divorced and you contributed to your retirement after the marriage it is marital property, meaning your spouse is entitled to half of your retirement. It may even be your plan to have your retirement count for both of you, but wouldn’t it be better to have it clear from the start of the relationship what you both would take away from it should things not work out? A prenuptial agreement not only saves you from fighting over property or retirement, it also saves you money in attorney fees.

2. What is included in the agreement?

You can cover a myriad of items in a prenuptial agreement, including: (1) protection from the other’s debts; (2) provide for children from previous relationships; (3) keep family property including personal property separate; (4) protect your estate plan; (5) waive or designate alimony to be provided; and (6) designate how your jointly held property will be split in case of a divorce.

3. What must exist in order to have a valid agreement?

In order to have a valid pre-nuptial agreement it must be in writing and signed by both parties. Unlike, a typical contract, no consideration other than the marriage is required.

If you are interested in getting a prenuptial agreement, please contact Treasure Coast Legal for a free consultation at 772-621-2886.