Navigating Florida’s Prenuptial Agreements: What You Need to Know
In the past, prenuptial agreements were frowned upon, viewed as catalysts for divorce. However, times have changed, and all 50 states now recognize the benefits of these premarital contracts. Instead of encouraging divorce, they empower couples to take control of their financial destiny should their marriage end. Florida, like other states, has its own set of rules governing these agreements. This article will guide you through Florida’s definition of a prenuptial agreement, its contents, and the factors that make it legally binding.
What Is a Prenuptial Agreement in Florida?
In Florida, a prenuptial agreement is known as a “premarital agreement.” It’s a contract between two people planning to marry that outlines how specific issues, such as alimony and property division, will be handled in the event of a divorce. Essentially, the agreement is a trade-off for the act of marriage with certain financial terms.
Who Should Consider a Prenuptial Agreement?
There are numerous reasons why you might want to consider a prenuptial agreement. It’s no longer just for the ultra-wealthy; many couples now use these agreements to ensure financial stability and predictability. People who may benefit from a prenuptial agreement include those who:
- Own assets they want to protect from division during a divorce
- Have children from a previous relationship and want to secure their inheritance
- Own business interests they wish to keep separate from their spouse’s assets
- Want to determine in advance if one spouse will pay the other alimony during separation or divorce
What Can a Prenuptial Agreement Cover in Florida?
In Florida, a prenuptial agreement can cover any issues that don’t violate the law or public policy. Typically, these agreements address each spouse’s financial rights and obligations during and after the marriage. Common topics include:
- How property will be managed and controlled during the marriage
- How property will be divided in the event of divorce, death, or other circumstances
- Whether one spouse will pay the other alimony during separation or divorce, and if so, the amount and duration
- How retirement plans and pensions will be handled
- The distribution of life insurance policy proceeds
- Whether either spouse is required to create a will to enforce the agreement’s terms
- Which state’s laws will be used to interpret the agreement if necessary
Can a Prenuptial Agreement Determine Child Custody and Support in Florida?
In Florida, a prenuptial agreement cannot affect child custody or child support. Courts must calculate child support based on the parents’ current financial abilities and the child’s needs at the time of separation or divorce. Child support is considered the child’s right, and parents cannot waive their obligation to pay it. Similarly, judges determine child custody based on the child’s best interests at the time of separation or divorce. If parents wish to agree on child support or custody, they can do so at the time of divorce or separation, subject to court approval.
How Can You Ensure Your Prenuptial Agreement Is Enforceable in Florida?
Florida adopted the Uniform Prenuptial Agreement Act (UPAA) in 2007 to determine the enforceability of prenuptial agreements. For an agreement to be enforceable:
- It must be in writing and signed by both spouses
- It takes effect when the couple marries
A prenuptial agreement may be unenforceable if a spouse proves:
- They did not sign the agreement voluntarily
- The agreement was signed due to fraud, duress, or coercion
- The agreement was unconscionable (“unreasonably unfair”) when signed, and the challenging spouse:
- Was not given a fair and reasonable disclosure of the other spouse’s financial circumstances
- Did not waive in writing the right to receive a fair disclosure of the other spouse’s assets and debts
- Did not have or could not reasonably have had knowledge of the other spouse’s financial circumstances
To prove that a prenuptial agreement was not signed voluntarily, the challenging spouse must show they either did not sign the agreement at all or only signed it due to fraud, duress, or coercion. For example, a judge may find an agreement unenforceable due to fraud if one spouse hid assets from the other when they signed the agreement.
If you need assistance with your prenuptial agreement or have questions about Florida’s laws, don’t hesitate to contact Attorney Gabriel Jose Carrera at 954-533-7593 or [email protected].
