Some people may view signing a prenuptial agreement, also known as a prenup, as preparation for divorce before a marriage has even started. However, these agreements are an effective planning tool that can help protect both parties.
Spouses may want to consider a prenuptial agreement if they are marrying later in life and have accumulated assets, to protect an inheritance or if one spouse earns significantly more than the other spouse. It may also be helpful if one or both of the spouses own a business.
Prenuptial agreement requirements
A prenuptial agreement in Florida must be in writing and signed by both parties. It is a voluntary agreement that is completed before a couple marries and becomes effective upon their marriage.
It can include their rights to manage and control property and details about how their property will be disposed of upon their separation, divorce or other event.
The parties may also include provisions about spousal support, life insurance and any other matter that is appropriate under the law. After the parties marry, they can amend or revoke their agreement in writing only.
In Florida, the prenuptial agreement may not be enforceable if one spouse can prove that it was not executed voluntarily or that it was created under fraud or duress.
It may also be invalid if one spouse was not provided with the other spouse’s property or financial disclosure before signing the agreement.
A prenuptial agreement may not be the first item a couple thinks of when preparing for marriage, but they are worth considering. An attorney can answer questions or provide advice to couples who have questions about prenuptial agreements.