How to Create a Fair Prenup
When you hear the term “prenuptial agreement,” what comes to mind? For many, a prenup agreement conjures up words like “adversarial,” “competitive,” “wealthy,” “insecure,” or even “loveless.” In Tampa, Florida, we are working to change that.
Prenup agreements are rational, practical, logical, and, perhaps most of all, fair. Rather than preparing for the worst, it helps you plan for the best. Here’s how to create a prenup that is fair.
Both Should Agree on a Prenup
Of course, a prenup should start with both parties agreeing that a prenup makes sense and is practical. You don’t want to have one party or the other feeling like they are being dragged into the agreement. It should not be signed under pressure.
A fair and honest prenup should start with a full financial disclosure by both parties. This should include the uncomfortable subject of debts. When you start with an open and honest discussion and assessment of debts and assets, it lays the foundation for a fair prenup.
A Prenup Should Not Be Coerced
A prenuptial agreement should be signed without coercion or pressure. It should be signed under the free will of the parties. In fact, coercion is one of the reasons the provisions of a prenup or postnup may be set aside in the future.
It Should Be Properly Witnessed
The signing of your prenup should be signed in the presence of a notary public and two witnesses. To ensure fairness and a lack of pressure, it should be signed days or weeks prior to the wedding and not just the day before.
It Should Be Signed with a Clear Head
It is important that a prenup not be signed while under the influence of drugs or alcohol. A prenup is a legal document and should be treated with that respect.
There is a lot to plan for when getting married. Crafting a fair prenuptial agreement may not be at the top of your list. But like discussions about children, religion, and finances, it should be a critical part of your plan. Go into discussions with an honest and fair approach, and you can come away with an agreement that can help solidify your relationship.
As prenups become more common and less stigmatized, it is likely you may have questions about a prenup or postnuptial agreement. In the Tampa, Florida, area, we encourage you to reach out to us. An initial consultation is free. Let us help you create a prenuptial agreement that is fair, honest and that you can live with.
If you have questions about a prenup agreement or a postnup agreement or require legal assistance in other areas of Family Law in Tampa, Florida such as high asset divorce you may always contact Damien McKinney of The McKinney Law Group to discuss your case further. He can be reached by phone at 813-428-3400 or by e-mail at [email protected].
We now offer virtual prenuptial agreements. Contact us to inquire further about our virtual prenup option.