Learn More About Prenuptial Agreements in Florida
While years ago, many states were against prenuptial agreements, today, all 50 states allow couples to adopt prenuptial agreements. These agreements protect both parties and simplify the divorce proceedings in the unfortunate situation of a couple needing a divorce.
While each state has its own unique set of rules regarding prenuptial agreements, in this particular article we'll be covering Florida's set of rules and regulations. Keep reading if you're interested in learning more about the ins and outs of prenuptial agreements in Florida.
Prenuptial Agreements in Florida
Prenuptial agreements, sometimes known as “premarital agreements,” are contracts between would-be spouses that determine how issues such as property division and alimony will be handled in the event of a divorce between the couple. Prenuptial agreements are typically known as a way for the wealthy to protect their assets from a divorce. Nowadays, more and more couples are using these agreements to make sure their financial futures are certain. People who are interested in prenuptial agreements today have a range of interests and responsibilities. This includes people who have children from a previous relationship and want to protect their future inheritance, have business interests that they want to keep separate from their spouse, or want to pre-determine whether one spouse will pay the other alimony during separation or divorce.
Prenuptial agreements in Florida cover any issues agreed upon by the couple that don't violate the law or public policy. Typically, this covers each partner's financial rights and obligations during and after the marriage but can also include rules about divorce or death. Alimony can also be covered in a prenup but it isn't as straightforward. Alimony terms in a prenup can be amended (in writing) to provide for a different alimony arrangement at any time after marriage to reflect changed life circumstances, such as a situation where one spouse quits or reduces work for the collective good of the family unit.
The following issues are the most commonly covered in prenuptial agreements:
- How property is divided in the event of death or divorce
- What happens to each spouse's retirement plans and/or pensions
- What happens to any life insurance policies
- How each spouse can manage or control property during the marriage
- Whether each spouse is required to write a will
It is important to note that a prenuptial agreement in Florida can't affect child support or child custody. The court needs to calculate child support at the time of the couple's separation based on their current ability to pay and the child's needs. Judges will also determine child custody based on the child's best interest at the time of the divorce. While alimony can be addressed in prenuptial agreements, it's not always 100% effective.
We would highly recommend contacting a lawyer to work with when creating or reviewing a prenuptial agreement, as they can be very complex. A lawyer will be able to provide you with the most accurate and beneficial advice regarding creating or agreeing to a prenuptial agreement.
Prenuptial Agreements Cost
One of the most common questions when it comes to prenuptial agreements is “how much does it cost?”. The answer is, “It depends”. Typically, prenuptial agreements can range in cost from $1,000 to $10,000 depending on the complexities. Each party in a prenuptial agreement must have their own separate counsel of their choosing. This will prevent any later attacks on the agreement claiming that a party didn't understand what they were signing or that they were signing under duress.
If you're interested in getting a prenuptial agreement drafted you must have an experienced lawyer to advise you and be there to guarantee the validity of your agreement. The compassionate and knowledgeable attorneys at Family Matters Law Group are passionate about providing their clients with the patience and understanding needed to handle their individual needs and goals. Contact them today to schedule a meeting with an attorney!
If you're concerned that you or a loved one may be involved in a domestic abuse situation and want mediation or legal guidance, contact the team at Family Matters Law Group. Contact them today to schedule a meeting with an attorney.