Prenuptial and Postnuptial Agreements
If you are entering into a first – or subsequent – marriage, or you want to better define your financial relationship in an existing marriage, you may be considering a prenuptial or post nuptial agreement.
Out With The Old And In With The New
Traditionally, whether with a prenup or postnup, each person retains their own attorney and the attorneys engage in a back-and-forth to go through the details. That process is cold, detached and often triggering given the lack of participation of the couple themselves.
Attorney Brenda Baietto offers an innovative process known as Collaborative Marriage Planning. This process focuses on negotiations involving both partners and their lawyers in a group setting. It encourages open communication in a customized approach designed to reach the mutual goals of the couple while at the same time strengthening the relationship. Openness, transparency, clarity are bedrocks of the process. In her practice, Brenda Baietto has helped couples reach agreements that have not only brought the couple closer together but helped illuminate how each party views and understands money – an issue critical to the sustaining of a marriage. By doing so, the couple learned about their partner and learned to work with their partner regarding important financial decisions that will affect their lives after marriage including financial saving, planning, and how to make decisions together.
If you’re asking yourself: “Do I need a prenup/postnup?” You probably do. We encourage you to think about Collaborative Marriage Planning as a way to foster trust and open communication about finances and financial planning between you and your partner.
Florida Prenuptial Agreements
A prenup is a legal document drafted and signed prior to marriage that typically establishes property and financial rights of each potential spouse should the marriage end in divorce. Historically, prenups have been viewed skeptically because they were commonly associated with one spouse (typically the potential Husband) using the prenup to limit the other spouse’s (typically the potential Wife) rights to property and money (alimony) in the divorce settlement.
Today, however, young couples are equally interested in open communication regarding finances/property and aligning their interests regarding how money is handled during the marriage and who gets what in the event of divorce. A Prenup is actually one of the BEST tools young couples are taking advantage of to start their marriage on strong footing. If you’re asking yourself: “Do I need a prenup?” You probably do and we encourage you to think about a prenup as a way to foster trust and open communication about finances between you and your parter.
A postnuptial agreement, sometimes referred to as a “postnup”, is similar to a prenuptial agreement except that it is created after the couple is married. Even if a couple has a prenuptial agreement in place, they can decide to make changes and agree to a legally binding postnuptial agreement.
Postnuptial agreements are especially useful when a married couple decides that they would like to create a contract regarding division of assets and debts, whether or not they are considering a divorce. For example, one party is opening a new business, and wants to come to an agreement, during the marriage, that defines how the buisness is distributed in the event of a divorce.
Postnuptial agreements may also be useful tools in the event one spouse passes away to protect assets and children that were not there before the marriage and prenuptial were completed.
Postnuptial agreements are legal contracts. They must be in writing and should be reviewed by a qualified divorce attorney. This ensures each spouse is treated fairly and receives the assets and support they will need.
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