Valentine's Day is coming up, and it is a time to celebrate love. Those in Orlando who are engaged to be married may be looking forward to a romantic holiday followed by a walk down the aisle later in 2018. However, one part of getting married that is not so romantic, but is very practical, is executing a prenuptial agreement.
When a couple marries, under Florida law, the property they purchase together -- the family home, automobiles, furniture, electronics and more -- becomes known as marital property, joint assets owned by both parties. Therefore, should a couple end their marriage, their marital property (and debts) must be divided in a way that is considered equitable, or fair, under Florida law.
Are you faced with the divorce process? Are you interested in putting this behind you as quickly as possible? Like most people, you don't want your divorce to drag on. However, you also know one thing to be true: There is a lot that goes into property division, meaning that it can take some time.
Divorce is a difficult time for anybody wading through the emotional and physical detachment of a dying relationship. What may have started out as an amicable agreement to part ways can devolve into a lengthy process of name calling, finger pointing and a tug of war over property.
Marriage doesn't end because you've decided one day you're finished with a relationship. Because it's the sum of many complicated matters, this often leaves couples feeling angry, and the result is finger pointing and placing blame. While it isn't uncommon to have these feelings, it isn't productive when trying to come to a resolution.
Pensions and other retirement accounts are valuable. They provide crucial income when the time comes to stop working. They are also a reflection of your career. You spent years making small contributions of money you could have spent elsewhere. The funds are your nest egg for the future, and you want to keep them intact. Do you have to give half away when you file for divorce?