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Prenuptial Agreements
- Can include divorce provisions of property debts & spousal support
- Cannot include custody & child support
- Protects assets for existing children
Prenuptial or premarital agreements are recognized and enforced in the state of Florida. A prenuptial agreement must be signed by both parties, and address issues related both to the death of one of the parties or a potential divorce. The divorce provisions may address property division, debts and spousal support, but custody and child support issues may not be determined in a prenuptial agreement. The parties may also provide in the prenuptial agreement the manner in which they will handle their finances during the marriage.
There are many reasons why people enter into a premarital agreement; they are not simply for the "rich and famous." Frequently, parties entering into their second marriage will desire a prenuptial agreement. Often, one or both parties will have children from a prior marriage, and may want to protect their children's financial interests in the event of their own death. Furthermore, each party may bring separate property into the marriage that they may want to protect. Prenuptial agreements can also be a good idea when there is a large disparity in the ages and/or financial status of the parties. The person with few assets will want to ensure that after the marriage, he or she is not left with nothing. Likewise, the person with the more substantial assets will want to protect those assets to the extent possible. Each party to the prenuptial agreement should have to opportunity to be represented by counsel. Fair negotiation on the terms of a prenuptial agreement is vital to the fairness of both parties and its likelihood to withstand subsequent scrutiny in the courts.
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