When you plan to get married, you will be preparing to enter a partnership with your fiance that will include both emotional and financial components. Because of the types of issues that might arise during a marriage and if it breaks down, prenuptial agreements are popular tools people might use to ensure they are legally protected. A prenuptial agreement can help by providing guidelines for how various types of assets might be handled, whether either spouse might receive spousal support, and how different financial decisions will be made and handled if a divorce occurs.
Prenuptial agreements might also be used to protect a spouse’s wishes if they die before they execute a valid will. If you are preparing to get married and want to create a prenuptial agreement, you should seek help from an experienced attorney at PurLaw. We can also help you understand the provisions of an existing prenuptial agreement in Florida if you are preparing to get divorced.
Understanding Prenuptial Agreements
In many cases, people who plan to marry for the first time will not have significant assets or children from previous relationships. A prenuptial agreement can help intended spouses determine critical financial issues in advance, avoid potential conflicts, and feel confident their interests will be protected. However, a prenuptial agreement must be validly executed and can’t include illegal provisions such as who will have custody of children or a waiver of child support.
A prenuptial agreement that hasn’t been executed in accordance with Florida law or that includes illegal provisions can be challenged in court. For a prenuptial agreement to be valid, both signatories must fully disclose their assets and debts, understand all of the provisions, and enter into the agreement willingly and without coercion or duress. To ensure that both parties have an opportunity to review and understand the document, each should retain independent legal counsel before they sign.
What Is Included in a Florida Prenuptial Agreement?
Under Florida law, a prenuptial agreement might include the following types of provisions:
- Those defining, waiving, or restricting the right of either spouse to alimony
- Provisions that define specific assets as the separate property of one spouse
- Provisions that define specific debts as being the responsibility of one spouse
- Terms that tie the right to divide property or receive alimony to the length of the marriage
- Provisions that address how a business will be handled
- Terms defining how retirement accounts and investments will be handled
- Provisions calling for lump sum settlements instead of property division and alimony
- Terms defining the rights of children from previous relationships to property
A prenuptial agreement will not be enforced if it is unfair in how it is negotiated or signed or in its terms.
If you are preparing to marry and want a prenuptial agreement, have been presented with a proposed prenuptial agreement, or are preparing to divorce and have a signed prenup, you should talk to the South Florida attorneys at PurLaw. Call us today for a consultation.