What Exactly to Prenuptial Agreements Protect Against?
People oftentimes think that, aside from spousal support (alimony) prenuptial agreements only govern the division of assets (stocks, bonds, bank accounts, houses, cars, real estate, etc.) that a person has accumulated prior to entering the marriage.
While this is true - it is only part of the equation.
Our Tampa prenup attorneys understand that prenuptial agreements govern not only division of assets that an individual accumulated prior to the marriage, but also any assets that one or more of the parties accumulate during the marriage. It also can govern the appreciation of any assets - like the value of a business or an investment account or a piece of real estate - that occurs during the period the couple is married.
For example, assume that, prior to the marriage, the prospective wife had a bank account with $50,000 in it that she received from a life insurance policy that her late father left her, but the prospective husband had no assets prior to marriage. When the marriage began, both parties worked, but after being married for two years, the couple decided to start a family and the wife decided to stay home and take care of the kids, while the husband continued with his career to support the family. When the first baby was born, the couple decided it was best to buy a house. They agreed to use the $50,000 from the wife's inheritance to put the down payment on a house that costs $200,000. They both agreed to sign a note and mortgage on the house, and that the husband would keep working and would use his salary to make the payments on the house. After living in the house for five years, the husband seeks a divorce. Believing that the reason for the divorce was that the husband was cheating on her, the wife wants not only alimony and child support from her husband, but also the house (now with an appreciated value of $250,000) since it was her inheritance that allowed them to make the initial down payment on it. The husband, on the other hand, insists that if it wasn't for his hard work and ability to increase his salary over the years, they never would've been able to afford the mortgage payments on the house during the marriage - so, ultimately, he should get at least a portion of, if not all, of the value of the house.
To the unwary, these can be extremely complicated propositions. Luckily, our Tampa prenup attorneys are skilled in drafting prenuptial agreements that address these types of situations and issues.
If you are in need of a Tampa prenup attorney, a Tampa prenuptial attorney, a Tampa prenup agreement attorney, or a Tampa prenuptial agreement attorney, please feel free to contact us at any time.
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