Do I Still Need a Prenup if We Have Equal Income?

In the modern era, it is more common than ever for spouses to approach marriage with approximately equal levels of wealth. In many cases, spouses actually meet each other through work while performing the same roles at a certain company. If you and your spouse earn equal salaries, you might be wondering whether a prenuptial agreement in Orlando is even necessary. Each situation is slightly different, and this subject might be worth discussing alongside a qualified family law attorney.

Income Is Not the Same as Net Worth 

Although this might seem like a relatively obvious point, income is not the same as “net worth.” Even though one spouse might earn the same as the other, their net worth may be significantly higher or lower. For example, both spouses might earn $100,000 per year. However, one spouse might have $1 million in assets, while the other might only have $500,000.

In addition to assets, you should also be wary of debts. Both spouses might earn $100,000 per year, but one might be heavily indebted to various creditors. For example, they might have a failing business or excessive credit card bills.

As a result of these differing assets and liabilities, a prenuptial agreement may be necessary. The agreement may help a spouse protect their assets if they enter a marriage with a higher net worth than their partner – even if both spouses earn the same income. Conversely, a spouse may use a prenuptial agreement to protect themselves from debts incurred by their partner prior to the marriage. Remember, a divorce may result in the division of debts and assets. In other words, you might end up paying your ex’s debts if you’re not careful.

Prenuptial Agreements Are More than Financial Arrangements 

Even if you enter a marriage with equal net worths and incomes, a prenuptial agreement can still be advantageous. With a prenuptial agreement in place, a potential divorce generally proceeds much smoother. Instead of disputing every detail of your divorce in court, you can simply adhere to your prenup for instructions on how to address various issues.

Prenuptial agreements can therefore save you from incurring considerable legal fees, and you can finalize your divorce without spending months or even years in court. For these reasons, prenuptial agreements are more useful than many people realize – and they can be effective for spouses of all income levels. To discuss the various pros and cons of prenuptial agreements in Orlando, you might want to book a consultation with a qualified family law attorney.

Find a Qualified, Experienced Prenuptial Agreement Lawyer in Orlando 

If you’ve been searching for a qualified, experienced prenuptial agreement lawyer in Orlando, look no further than Steve Marsee, P.A. Prenuptial agreements are highly personalized contracts that can meet your unique needs. As such, it makes sense to discuss your specific situation during a consultation. Online research only gets you so far, so book a consultation today to learn more about your next steps.

Sources: 

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.079.html

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/Sections/0732.702.html