One thing that makes news every time a celebrity marries or gets divorced is prenups, also known as prenuptial agreements. This makes one believe that only the rich and famous need such an agreement. However, the truth is that many ordinary people also choose to get a prenup. It should be made with the counsel of a Fort Lauderdale divorce lawyer.
Prenups are used to protect assets
Prenuptial agreements are most common when one wants to protect one’s assets in case of a divorce. The agreement will typically cover the division of assets between the couple in the event of a divorce.
It can be used to secure children’s inheritance
One of the reasons for a prenuptial agreement is to secure the inheritance of children from a previous marriage. This ensures that the child will inherit a fair share if his/her parent dies. It also prevents the surviving stepparent from denying the child his/her rights.
It must be fair
When a prenup comes into question, the courts will see that it is a fair agreement. A prenup can be challenged if circumstances have changed considerably, the marriage was long-term, or if the original terms are deemed unfair. In such cases, the court will strive to ensure a fair distribution of assets. The court will not usually set aside such a prenuptial agreement without good reason.
Lawyer’s counsel is important
A prenuptial agreement should only be entered into under the counsel of an experienced Fort Lauderdale divorce lawyer. Under-representation of one party can later give rise to issues of unfairness. Hiring a lawyer ensures that each party understands his/her legal position.