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How can a prenup protect my assets?

No one who is getting married likes to consider the possibility that the marriage could someday end in divorce. However, it can and does happen. While you may not want to think about it, ignoring the possibility of divorce will not make it go away.

In fact, you could be doing yourself a great disservice by not taking steps to protect yourself in the event of a divorce. This can be especially true for people who have a lot to lose financially in a split. If you are someone who is wealthy or has sophisticated assets, protecting yourself with a prenuptial agreement can be a wise decision for a few reasons.

  1. It can identify separate assets as such: Going into a marriage with significant assets typically classifies them as separate assets. However, over the course of a marriage, there are ways they can become marital assets. Assigning ownership in a prenup can prevent this.
  2. It can set expectations for spousal support: In the event of a divorce, the wealthier spouse may be ordered to pay spousal support. However, as specified in Florida prenuptial agreement statutes, you can set limits, awards and waivers of alimony in your prenup. Failure to do so will leave the determination of alimony in the hands of the courts.
  3. It can protect you from taking on debt: Like assets, debts accumulated during a marriage can be eligible for distribution, as will separate debts that become marital property. To protect yourself from having to be responsible for your spouse's separate debt in the event of a divorce, you can limit your liability with a prenup.

Discussing matters like a prenuptial agreement can be very difficult, especially because it comes at a time when you, your partner and your families are all focused on getting married. However, addressing this issue should not be considered a sign that anyone thinks a marriage will not last. Rather, it can be seen as an important safety net that you may never even need to use.

In order to learn more about your options regarding a prenup, it can be crucial that you discuss this issue with an experienced family law attorney. 

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