What Is the Purpose of a Prenuptial Agreement?

If you follow celebrity news at all, you’ve probably come across the term “prenuptial agreement” more than once. Although these contracts are certainly a regular occurrence among celebrity couples, they’re also fairly common among “regular” people too. So, what exactly is the purpose of a prenuptial agreement?

A prenuptial agreement typically specifies how assets will be divided in the event that a couple divorces (although it can also denote what will happen when each spouse dies). It helps each spouse protect the assets that he or she accumulated before the marriage, and it also helps each spouse protect him- or herself from the other party’s debts.

Signing a prenuptial agreement historically had a negative connotation, since it suggested that the couple didn’t have much faith in their marriage. But even if a couple never divorces, a prenuptial agreement can still offer numerous benefits. For example, if there is a large disparity in wealth between the two spouses, signing a prenuptial agreement provides assurance that the less-moneyed spouse isn’t entering the marriage for financial gain. Plus, if the agreement specifies how assets will be distributed when each spouse dies, the surviving spouse won’t have to spend as much (if anything) on litigation costs when that time comes.

Family Law Attorneys Serving Clients Throughout Tampa Bay

If you’re interested in drafting a prenuptial agreement, or if your future spouse has asked you to sign one of these contracts and you want to make sure it’s fair, you can turn to the attorneys at the Law Offices of Audrey A. Jefferis, P.A. We have offices in New Port Richey and Palm Harbor, and we’d be happy to meet with you at whichever location is most convenient for you. Contact us today to schedule a consultation.