Today, more people than ever before are finding the need for a prenuptial agreement before marriage. A Florida Premarital Agreement is an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage. Although many people view creating a prenuptial agreement as an adversarial process with the one you love, you can also look at it as a way to make your own decisions about the distribution of your finances. The agreement’s purposes extend beyond planning the outcome of divorce because they can also serve as important tools in Florida Estate Planning particularly when you want to make sure children, friends, and charities receive assets. Otherwise most assets will be given to the surviving spouse upon death.
Florida statutory law lists many forms of content that spouses may contract with respect to in the agreement. In most cases the agreement will spell out in detail who owns each asset and almost any property right may be included. One very important property interest related to Florida Estate Planning is a requirement to be included in a Florida Will or an obligation to make a Florida Will. However, the right of a child to support cannot be adversely affected by the agreement.
The prenuptial agreement is not enforceable under circumstances that indicate a party did not execute the agreement voluntarily or fair disclosures of the property were not given to both parties. Some of the limitations on enforceability do not apply in the case of death. It is also important to have two Florida Estate Planning Lawyers present, one to represent each party, at the signing of the prenuptial agreement because the terms could end up being substantially one-sided. If this happens courts may invalidate the portions or all of the agreement.
Whether or not you are considering remarriage later in life or marrying for the first time, you may want some protection if you have worked hard and accumulated substantial assets during your lifetime. If you believe it is time to tie the knot with your loved one, a premarital agreement may be right for you. Remember to contact a Jacksonville Estate Planning Lawyer to help you understand and define your objectives in the case of divorce or death.