Why Does My Partner Want A Premarital Agreement?
While some associate prenups with the rich and famous, these legal documents are a valuable tool to a wide range of people. There are many reasons why an individual may request a prenup before getting married. They provide guidance on how to handle assets should the marriage end or someone passes away. You do not have to be uber wealthy to benefit from a prenuptial agreement.
But as is true with any legal document, working with a Tampa family law attorney before signing official agreements is an important step in protecting yourself and your resources today and into the future.
Full Disclosure of Finances
Of course, in order to build an agreement that is complete, both people need to provide a full disclosure of the assets and debts. This will include income verification, investment account balances, properties owned, and an array of financial statements. Often, each person will have their own attorney and there is a timeframe in which both individuals and their attorneys will review the data supplied and ask questions or request further documentation, as needed. While this process takes time, it is essential. When a prenup is not well-crafted, there is the possibility of legal disputes later.
Then, to make the agreement binding, each person must voluntarily sign the agreement, authorizing the information included in the contract.
Because the process can take time and data may need to be reviewed and addressed, beginning the process early on is advised. So, if your partner has brought up the topic of a premarital agreement, talk to an attorney to have your concerns addressed. You do not want to be signing a document designed by another party in the eleventh hour before your wedding day.
Your Prenup Could Be Part of Your Estate Plan
When entering into a marriage, your prenuptial agreement could be part of your estate planning process. This is common when the people marrying have had prior unions that resulted in children, for example. Legal documents can be drawn up that give the parents peace of mind, knowing their children will receive the inheritance they want them to should they pass away.
Each union has its own particular concerns to address. If you choose to enter a prenuptial agreement or not is up to you. But before you make a final decision, discussing your options with a Tampa family law attorney could provide you with valuable information in order for you to make an informed decision.
Was your fiance’s request to craft a premarital agreement a surprise to you? While prenups aren’t for every couple, there are a lot of situations where drafting a premarital agreement is in the best interest of both individuals. But before you agree to any terms, be sure you have a full understanding of the document. Your desires need to be addressed as well as your soon-to-be spouse’s wishes. To learn more about crafting a prenup, schedule an appointment with the compassionate lawyers at HD Law Partners. Call 813-964-7878 to schedule a free consultation.