Premarital Agreements in Florida: What You Need to Know
In Florida, premarital agreements are legal documents that help couples protect their assets and property before getting married. Whether you`re a high-net-worth individual or simply want to protect certain assets in case of a divorce, a premarital agreement can offer peace of mind.
What is a Premarital Agreement?
A premarital agreement, also known as a prenuptial agreement, is a legal document that couples sign before getting married. It outlines the obligations and rights of both parties in the event of a divorce or separation. The purpose of a premarital agreement is to establish each spouse`s legal rights and obligations during the marriage and in the event of a divorce.
Why should you consider a Premarital Agreement in Florida?
Premarital agreements can offer numerous benefits to both parties, including:
1. Protecting Assets: With a premarital agreement, you can protect your assets and property, including businesses, real estate, and investments.
2. Clarifying financial obligations: A premarital agreement can outline each spouse’s financial obligations during the marriage, including the payment of bills, taxes, and debts.
3. Avoiding conflicts: A premarital agreement can help prevent disputes that may arise during a divorce, such as disagreements over property division and spousal support.
4. Clarifying the terms of property division: In Florida, when there is no premarital agreement, property acquired during the marriage is considered marital property and is subject to equitable distribution in a divorce. A premarital agreement can specify how property will be divided in case of a divorce.
How does a Premarital Agreement Work in Florida?
In Florida, premarital agreements are governed by the Florida Uniform Premarital Agreement Act (FUPAA). This act requires that premarital agreements be in writing and signed by both parties. It also requires that both parties receive adequate disclosure of each other`s assets and liabilities before signing the agreement.
It’s essential to note that premarital agreements in Florida cannot waive a spouse`s right to alimony if it would cause the spouse to be left with inadequate support. Additionally, any provisions in a premarital agreement regarding child support or custody are unenforceable, as the court must consider the best interests of the child when making decisions.
Conclusion
In Florida, premarital agreements can be a useful tool for protecting your assets and clarifying financial obligations before getting married. Whether you`re a high-net-worth individual or simply want to protect certain assets, a premarital agreement can offer peace of mind. Work with an experienced attorney to ensure that your premarital agreement is drafted according to Florida law and is enforceable in court.