Common Topics Included in Premarital Agreements

 

Marriage is a beautiful commitment, but before tying the knot, it is a good idea to have a premarital agreement in place. A premarital agreement, also known as a prenuptial agreement, is a legal document that outlines how a couple's financial and emotional assets will be handled in case of a divorce. While premarital agreements are not necessary for every couple, it is essential for those who have already acquired significant assets or for people who have children from previous marriages.

Premarital agreements are not a one-size-fits-all document. They can be customized to suit your specific needs and requirements. In Orlando, FL, Ilvento Law can help you create a premarital agreement that best suits your circumstances.

In this blog, we will discuss some of the common topics included in premarital agreements.

 

1. Property division

One of the most common topics included in premarital agreements is the division of property. This section outlines which assets are considered marital property and which assets are considered separate property. Marital property typically refers to assets and debts acquired during the marriage. Separate property refers to assets and debts acquired before the marriage. The premarital agreement will also outline how the marital property will be divided in case of a divorce.

2. Spousal support

Another common topic is spousal support. This section outlines if and how much spousal support will be paid in case of a divorce. The premarital agreement will also outline the duration of spousal support and any contingency events, such as remarriage or cohabitation, that will terminate spousal support payments.

3. Business ownership

If one or both of the partners own a business, it is crucial to include a section in the premarital agreement that outlines how the business will be handled in case of divorce. The section should encompass how the ownership of the business will be divided, any revenue streams generated during the marriage, and how the partners' role in the business may be impacted.

4. Debt obligations

The premarital agreement should also include a section on each person's debt obligations. This section may outline how preexisting debts will be handled throughout the marriage, who is responsible for paying them, and how they will be split in case of a divorce.

5. Retirement accounts

Retirement accounts are also essential assets and should be included in the premarital agreement. This section should outline how each party's retirement accounts will be divided, how contributions will be handled during the marriage, and any possible penalties for early withdrawal.

 

Conclusion

A well-written and well-drafted premarital agreement can help avoid potential conflicts in case of a divorce. Premarital agreements are customized legal documents that need to be created with the help of a professional attorney. Ilvento Law, located in Orlando, FL, offers expert legal assistance in creating a premarital agreement that best suits your needs. If you have any questions or would need professional help in your premarital agreement in Orlando, FL, please contact us today, and we would be happy to help you.