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Divorce, separation and marital breakups involve complex financial issues, particularly regarding the division of property, alimony and spousal support. One way to resolve these issues and minimize the potential of a contentious legal proceeding is to create a prenuptial agreement.
The marital and family law practice at Blair H. Chan, III, PLLC is dedicated to helping clients find ways to resolve current conflicts as well as address potential future conflicts. We have extensive experience negotiating, reviewing and preparing prenuptial agreements for couples who are considering marriage in the greater Tampa area including St. Petersburg, Plant City and Clearwater and the surrounding counties of Pasco, Hillsborough, and Pinellas.
Anyone can benefit from a prenuptial agreement, not just celebrities, and wealthy individuals. The future is always uncertain, however, a prenuptial agreement can resolve some of that uncertainty regarding financial issues and should be the cornerstone of any financial plan for a couple contemplating marriage and the financial interdependence that frequently comes with it. A prenuptial agreement is not just for avoiding alimony or protecting assets but presents an opportunity for couples considering marriage to openly and frankly discuss their financial expectations and desires.
A prenuptial agreement (prenup) is a contract that a couple enters into prior to marriage that is designed to address and resolve in advance financial issues that the parties expect to face during their marriage. This agreement clarifies and defines expectations and understandings regarding property rights of each party during the marriage, as well as what will happen should they choose to divorce. In addition, a prenuptial agreement frequently addresses the parties agreements and expectations of how they will or will not continue to support each other should they separate for divorce. One aspect of the marital relationship that a prenuptial agreement cannot prospectively resolve, however, is parenting rights, timesharing, and custody of children.
Prenuptial agreements offer certain benefits to a couple contemplating marriage. First, the negotiation of the agreement begins a discussion between the parties of their expectations, desires, and concerns regarding the marital finances. Second, the agreement will create a degree of certainty of what will happen in the future should the marriage fail and the parties choose to separate. Third, the parties can establish how disputes will be resolved and enable them to pursue alternatives to litigation such as divorce mediation or collaborative divorce. Lastly, the agreement may offer protection of a spouse’s non-marital assets and/or protect a spouse from debts incurred by the other spouse.
It is important to note that a prenuptial agreement must be created with reasonable disclosure and it must be entered into by each party free of coercion in order to be considered valid. Without a prenuptial agreement, the courts may intervene to make determinations about dividing marital property, alimony, and spousal support. By engaging the services of Blair H. Chan, III, PLLC, you can create a well designed prenuptial agreement that will protect your interests and hopefully minimize future financial disputes. Contact Blair H. Chan, III, PLLC today.