Prenuptial Agreements: What is Florida’s position?
Prenuptial agreements were once viewed by the courts as threatening to the sanctity of marriage. However, they are now commonplace, and even widely enforced. Most U.S. states have enacted the Uniform Premarital Agreement Act, which standardizes the enforcement of premarital agreements across the nation. Fortunately for many Floridians, our state is one of them.
What You Can and Can’t Do with a Prenuptial Agreement in Florida
Florida recognizes prenuptial agreements for individuals who desire financial assurances prior to getting married. However, state legal statutes stipulate, among other things, that your prenuptial agreement must be in writing.
Prenuptial agreements express how your assets will be shared during your marriage, and how they will be divided if you divorce. This can benefit you and your spouse in the following ways:
It can allow you to clearly define the rights and obligations that you share in both your individual and collective finances, including proprietary rights in each other’s businesses and property.
It can allow you to address alimony and define how assets are to be divided, if or when you divorce.
It can allow you to express how the state is to handle your spouse’s estate, in the event that he or she dies without a valid will.
On the other hand, in Florida, a prenuptial agreement cannot:
Adversely affect child support
Be unconscionable if it lacked full disclosure
Be involuntary
Be made by way of “fraud, duress, coercion or overreaching”
Establish a level of spousal support that would impoverish one party
Conflict with criminal law or Florida public policy
Prenuptial agreements are not just for wealthy couples or the wealthier spouse only. Your financial circumstance may improve drastically over the course of your marriage; a prenuptial agreement can help you avoid disputes over the distribution of assets that you and your spouse have accumulated, if you divorce. Furthermore, a prenuptial agreement may easily be written to protect the rights of both spouses equitably. In fact, courts are more likely to enforce a prenuptial agreement that is fair to both parties.
That being said, before you draft a prenuptial agreement, you and your intended spouse should come to terms with the parameters of the agreement. The most important points to consider are:
How your finances are to be shared during the marriage,
How your assets are to be divided in a divorce, and
How your assets are to be divided if one spouse dies.
You should then hire separate lawyers to help you draft and review the agreement with respect to the procedural and substantive rules governing prenuptial agreements in Florida.
How Experienced Bradenton, FL Divorce Attorneys Can Help
Your finances may dramatically change after divorce. At the Jodat Law Group, P.A., we can help you protect your financial health and plan for the future during this difficult period in your life. Contact your Bradenton divorce attorneys at 877–912–2671 or schedule a free consultation online today. We will evaluate your case and explain your financial options.