Prenups aren’t simply pieces of paper to be signed, rather, they are complex legal documents. You may want a Florida prenup agreement to protect your assets in a divorce and to bring more predictability and certainty to your financial future. Here are six facts you need to know before signing a prenup agreement in Florida.
What is a Prenup Agreement?
A prenuptial agreement, also known as a “pre-marital agreement” in Florida, refers to a contract between prospective spouses to decide how specific issues such as property division and alimony would be addressed during a divorce.
A prenup imposes a legal obligation on both parties concerning certain financial aspects that are likely to arise in a divorce.
Requirements for a Legally Enforceable Florida Prenup Agreement
Florida prenuptial agreement statutes require that a prenup should be a written document and both parties must sign it. In addition, both parties should voluntarily agree to sign the prenup and make all the necessary financial disclosures as part of the agreement.
A Prenup is More Appropriate for Certain Individuals
While a Florida prenup agreement is well-suited for most prospective spouses, it is more appropriate for individuals who:
- Have pre-marital assets, which they wish to protect in the event of a divorce
- Own a business before marriage, which they would prefer to keep separate in case the marriage fails
- Have children from a previous marriage, and wish to simplify future inheritance issues
- Wish to pre-determine the issues related to alimony during a divorce
Issues that can be Covered in a Prenup
To fully understand what a prenup agreement is, you should know what kind of issues can be a part of a valid prenup. According to the Florida prenuptial agreement statute, a prenup must not include anything that violates the law or public policy.
Financial rights and obligations of each spouse during and after the marriage are typically covered in a prenup. Prospective spouses often address the following issues in a pre-marital agreement in Florida:
- The ability of each spouse to control or manage assets and debts during the marriage
- How the property will be divided in a divorce
- Whether alimony will be involved in a divorce, and if so, what will be the amount and duration
- Division of each spouse’s pensions, retirement accounts, and life insurance policies
- Whether the spouses should prepare a will to execute the terms of the agreement
Child Custody and Child Support Issues are Excluded
A Florida prenup agreement will have no role in determining child custody and support in the event of a divorce.
The courts in Florida will determine child custody according to their assessment of what might be in the child’s best interests. They will also calculate the amount of child support according to the child’s needs and the parents’ ability to pay.
What Makes a Prenup Legally Enforceable?
Florida adopted the Uniform Prenuptial Agreement Act (UPAA) in 2007. This Act has laid out various rules to enable the courts in Florida to determine whether a prenup is legally enforceable.
Choose a Competent Family Law Attorney for Your Prenup in Florida
Under Florida law, each party in a prenup should be represented by their lawyer. To draft a solid and legally binding prenuptial agreement or to address legal issues related to your prenup, call the office of Attorney Patrick Cordero at 305-445-4855.
We will handle your family law case with the attention that it deserves. Schedule a consultation now.