Although discussing a prenuptial agreement may not be the most romantic aspect of wedding preparation, it can definitely be the most responsible. A prenup isn’t viewed as a harbinger of divorce. In fact, it aims at clarifying financial deals between partners once they are married. A Prenuptial agreement lawyer Stuart who specializes in this area can help you draft a prenuptial agreement that will stand the test of time.
What does a Prenuptial Agreement Mean?
In different states like Florida, the legal term is “premarital agreement”. It is a contract negotiated and signed by a couple that intends to get married. This agreement is binding after the wedding has taken place. Florida law states that premarital agreements are guided by Uniform Premarital Agreement Act, Section 61.079 of Florida Statutes. In order to be considered valid, it should be in writing and signed by both parties.
Topics a Prenup Can Include
The topics that can be included in a prenup are many.
Some items that couples can negotiate include property ownership; rights as to property, including the right to buy, sell, or convey ownership of property in the marriage; how property will be handled in case of divorce, separation, or death; spousal support; businesses, investments, and retirement accounts; and estate planning.
For people with certain types of interests, such as waterfront properties, businesses, or investment accounts, those issues can be crucial.
What Prenup Is Not Allowed To Do
There are certain limitations on what can be accomplished in a prenup. A prenup cannot change a child’s entitlement to support. Issues such as time-sharing and custody arrangements cannot be decided by spouses through a prenup either, as those topics are up to the court to decide at the time of divorce. It is impossible for a prenup to remove the child’s right to financial support from their parents.
There’s also a safety net on spousal support. If waiving alimony would leave one spouse eligible for public assistance at the time of divorce, a court may require the other spouse to provide support to the extent needed to avoid that result.
Who Should Opt for a Prenup?
People often think prenups only apply to the rich, but they can also play a crucial part in numerous other situations. It might make sense to consider a prenup in cases where you:
Run a business or professional practice;
Own real estate, including properties located in Stuart, Jensen Beach, or Hobe Sound;
Expect to inherit or receive a valuable gift financially;
Have kids from a previous marriage;
Are in debt or have student loans;
Are getting married late in life and want to keep your retirement safe;
Or are in a relationship with someone with a very different income than yours.
In the absence of a prenup, it’s the equitable distribution laws that apply. What you agree upon in a prenup can be invoked.
How is Prenup Subject to Disputes?
Prenuptial agreements are not necessarily unbreakable. Under Florida law, it will not be enforced if a party seeking to void it proves:
They didn’t sign the prenup voluntarily;
The agreement was arrived at through fraud, coercion, pressure, or undue influence;
The prenup was unconscionable at the moment of signing in a way that it was not disclosed to the party’s finances
It was unjust when signed. The individual did not receive a complete disclosure of the other party's finances and it was not waived in writing either.
That’s why full financial disclosure and timing are very important.
Advice for a successful prenup:
Start early. An agreement that is signed the week before the wedding will be seen as an agreement that was signed under pressure.
Disclose everything. Do not conceal any debts, assets, income, or business interests.
Obtain independent legal counsel. Ensure that both parties have independent legal counsel to make it clear that both parties understood the terms of the agreement.
Be fair. Agreements that are overly one-sided will probably face challenges down the line.
Make sure to update the agreement. The agreement should be reviewed after significant life changes have occurred in the couple’s life such as kids or businesses.
Why Should You Hire a Prenup Attorney in Stuart?
Using online templates may lead to a significant omission. If there's any ambiguity in a contract, if any disclosures are missing, or if a process is not followed, your whole agreement could be voided.
Hiring an attorney who specializes in local family law can help you:
Examine your assets and objectives and decide upon the right conditions
Draft a clear agreement that complies with the relevant Florida regulations
Negotiate on your behalf, ensuring the process remains civilized
Work on the prenup’s setup in conjunction with your estate plan
Clarify the procedure and its meaning in simple terms
Diligently drafted prenups can actually lead to fewer disputes. Discussing finances prior to marriage is a great way to build trust.
Consultation with a lawyer at Gisondo Law
Gisondo Law assists couples in Stuart and Martin County with prenups and postnups.
