Prenuptial agreements, often known as “prenups” or premarital agreements, are vital legal instruments designed by two parties planning to wed. These agreements outline the marriage terms and determine certain rights and conditions in the event of a divorce.
In Florida, a prenuptial agreement is an accord between individuals intending to marry and takes effect upon the union. To quote Florida Statute §61.079, a prenuptial agreement isn’t valid until the parties wed, even if executed beforehand.
Formalities
A prenuptial agreement demands a written and signed document by both parties. Apart from the marriage, no other consideration is necessary to enforce it.
What can the parties agree on?
Parties to a prenuptial agreement may agree to certain terms they negotiate on. Florida Statute §61.079 provides several examples of what the parties may agree to, which include:
- The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located;
- 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 separation, divorce, death, or the occurrence or nonoccurrence of any other event;
- The establishment, modification, waiver, or elimination of spousal support;
- The making of a will, trust, or another arrangement to carry out the provisions of the agreement;
- The ownership rights in and disposition of the death benefit from a life insurance policy;
- The choice of law governing the construction of the agreement; and
- Any other matter, including their personal rights and obligations, is not in violation of either the public policy of Florida or a law imposing a criminal penalty.
It’s important to note, however, that a child’s right to child support may not be adversely affected by a prenuptial agreement.
Can the prenuptial agreement be changed or revoked?
After marriage, parties can alter, revoke, or abandon a prenuptial agreement through a written agreement signed by both parties.
When is a prenuptial agreement unenforceable?
Prenuptial agreements may become unenforceable if not executed according to Florida Law. Additionally, voluntary execution, avoidance of fraud, duress, and coercion, or an agreement deemed unconscionable at the time of execution can render a prenuptial agreement unenforceable.
Conclusion
Prenuptial agreements require careful drafting and require an understanding of the law in order to ensure its validity. We strongly recommend that you seek the advice of a competent attorney to further explain your rights and what can and cannot be included in a prenup.
The legal process can get difficult, which is why we always recommend that you seek the assistance of counsel; or at least have a consultation. Schedule a consultation with one of our attorneys today to review the issues of your case, the legal options you may have, and certain rights that pertain to your unique situation.
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