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Prenuptial and postnuptial agreements can help during divorce

The idea of getting married can understandably be exciting, but unfortunately, not all couples end up experiencing happily ever after. In addition to leading to emotional challenges, this can lead to financial problems, especially for those who are business owners. However, business owners in Florida can protect themselves from the negative impacts of divorce in a couple of ways.

First, it may behoove business owners to create and sign prenuptial agreements before they walk down the aisle. Prenuptial agreements, or prenups, are written agreements between those who are about to get married that establish what would be treated as separate property during a divorce proceeding. Those preparing to get married must execute a prenup before witnesses without coercion. In addition, they must fully disclose their financial situations, and their agreement cannot be too lopsided.

Those who are already married cannot create a prenup. However, they can still put together a postnuptial agreement, which serves much the same purpose as a prenup. This type of agreement is helpful for communicating one's intentions regarding matters such as property division during a marital breakup.

Those who do not have prenups or postnuptial agreements in place when they embark on the divorce process can still try to resolve their divorce matters outside of court to avoid the stress that comes with traditional divorce litigation. For instance, informal negotiations or mediation may allow two spouses to achieve a mutually satisfactory divorce settlement. An attorney can provide the guidance needed to either put together a prenup/ postnuptial agreement or navigate negotiations/mediation in Florida.

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