What Is A Prenuptial Agreement And Do I Need One?
There are many misconceptions about prenuptial agreements, however they can benefit nearly every couple. One misconception is that prenuptial agreements are only for wealthy couples, but they are critical for parties from any socio economic background. These agreements cover more than just dividing up money, it can include arrangements for property division, spousal support, estate plans, and obligations of both parties during the marriage. Contact our experienced Tampa prenuptial agreement attorney Laura A. Olson for more information about how a prenuptial agreement would work for you.
Are There Requirements to Make a Prenuptial Agreement?
Florida law outlines certain requirements to make a valid prenuptial agreement, including:
- The agreement must be signed by both parties;
- The parties entered into the agreement voluntarily;
- The agreement is fair and reasonable at the time it is signed;
- The agreement is not a product of fraud, duress, coercion, or overreaching; and
- The parties made a fair disclosure of all property and financial obligations.
The prenuptial agreement becomes effective once the parties are actually married.
What Can and Cannot Be Included in a Tampa Prenuptial Agreement?
In Florida, there are many items that can be included in a prenuptial agreement related to the marriage, including but not limited to:
- The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;
- The disposition of property upon divorce, death, or occurrence of another designated event;
- The establishment, modification, waiver, or elimination of spousal support;
- The making of a will, trust, or other arrangement to carry out the provisions of the agreement;
- The ownership rights in and disposition of the death benefit from a life insurance policy;
- Any other matter the parties deem necessary, as long as it is not in violation of public policy or any law.
On the other hand, certain items cannot be included in a prenuptial agreement. The following are considered presumptively invalid in an agreement, but can be used for the court to understand the parties wishes:
- Waiver of child support;
- Child custody determinations; and
- Blanket waivers of spousal support, however it can address spousal support in other ways.
Child custody arrangements are always based on the best interests of the child, and therefore, cannot be determined through a prenuptial agreement created by the parents.
How Do I Make Sure My Prenuptial Agreement Stays Valid?
To avoid any potential issues with your prenuptial agreement upon a divorce, it is best to use an experienced attorney who understands all the requirements. Along with that, we recommend speaking with your future spouse many months prior to the marriage to avoid a court deeming the agreement invalid due to being hastily executed. Additionally, if one party fails to fully disclose important financial information prior to making the prenuptial agreement, a court can refuse to enforce the agreement.
The Law Office of Laura A. Olson Can Help
A lawyer can ensure your prenuptial agreement is carefully written to achieve your goals. Most importantly, we want to help you and your future spouse begin a long-lasting and solid marriage. Having a prenuptial agreement with specific details will help to minimize resentment during any potential divorce. Call the Law Office of Laura A. Olson at 813-222-0888 for a free consultation today.