Are There Any Circumstances Whereby a Prenuptial Agreement Is Non-Negotiable?
Regardless of whether or not a prenuptial agreement feels like a romantic topic to bring up to your partner, there are at least three circumstances where they are arguably non-negotiable: with second or subsequent marriages, where children are involved, where there is a disparity in assets, and when there is a family business on one side of the marriage. From this standpoint, a prenup is a lot like insurance in that you may not be planning on having an accident, but you have insurance to protect yourself from a catastrophe in case you do.
Second Or Subsequent Marriages With Children
There is no question that second and subsequent marriages – where several families merge into one – can sometimes make for complicated financial discussions. It can especially be an issue where two individuals have children coming into the marriage. For some couples, it is important to come up with a prenup which dictates that if one spouse dies, the remaining spouse will receive the assets. In addition, a prenup can be helpful in ensuring that unintended family members do not end up with a spouse‘s money; for example, if spouse A has two children, and spouse B has two children, once spouse A passes away, their assets go to spouse B, but once spouse B passes away, those same assets should go to spouse A’s children, not to spouse B’s children. Documenting all of this officially, early, and upfront in the form of a prenup helps to ensure fairness and prevent messy family disputes in court later on.
One Partner’s Family Owns A Business
Any couple who has a family business involved should also opt for a prenup. This is especially important when there is a multi-generational family business involved, whereby, if a prenup is not in place, the business could end up being dissolved and/or split up so that a portion goes to an ex-spouse in the event divorce. In fact, some business shareholders will insist on a prenup so as to ensure that they do not end up running the business with an ex-spouse as an unintended partner. Keep in mind that prenups can not only address assets and businesses, but also intellectual property rights.
Any Disparity In Assets
Also keep in mind that one partner having more assets than the other makes for a good argument to opt for a prenup as well, and this doesn’t just apply to millionaires; it also applies to someone who simply invests or owns real estate before they get married.
Contact Our Orlando Prenuptial Agreement Attorneys to Find Out More
At the Arwani Law Firm PLLC, our Orlando family attorneys have significant experience preparing, negotiating, and reviewing prenups, including those related to complex divorces with high assets and business interests. We understand how scary broaching the topic can be, and we can help that, with every step of the way. Contact us today to find out more.
Resource:
businessinsider.com/prenuptial-agreement-needed-for-second-marriage-family-business-large-assets
