Prenuptial Agreements
Prenuptial agreements, also called “premarital agreements” in the state of Florida, are legally binding contracts between prospective spouses. These agreements serve various purposes, including financial planning, wealth protection, protection of family assets, preservation of the intended financial arrangements and final wishes in case of divorce or death, and prevention of court interference in private matters during a divorce.
While not everyone signs these agreements, they are more common for high-net-worth couples because they often have substantial assets, complex financial portfolios, and intricate family dynamics that can benefit from the clarity and protection provided by prenuptial agreements.
What Issues Can Prenuptial Agreements Address?
In Florida, couples can use prenuptial contracts to enter into any agreements that don’t violate the law or public policy. Typically, these agreements focus on each spouse’s financial rights and responsibilities during and after the marriage. Prenuptial agreements in Florida often cover the following issues:
- How each spouse will handle or control property during the marriage
- Property division in the event of divorce, death, or other significant occurrences
- Whether one spouse will provide alimony during separation or divorce, specifying the amount and duration
- The fate of each spouse’s retirement plans or pensions
- The handling of proceeds from life insurance policies
- Whether either spouse is obligated to create a will to execute the agreement’s terms
- Determination of the state laws that will govern the interpretation of the agreement, if needed
It’s important to note that a prenuptial agreement cannot impact child custody or child support matters in Florida. The court determines child support calculations based on the parent’s current financial capacities and the child’s immediate needs during separation or divorce. The right to child support is considered a responsibility to the child and cannot be waived through agreements.
Similarly, child custody decisions are made based on the child’s best interests at the time of separation or divorce. If parents wish to agree on child support or custody arrangements, they may do so during divorce or separation proceedings, subject to approval by the court.
How to Ensure the Validity of Your Prenuptial Agreement in Florida
In Florida, the enforceability of prenuptial agreements is often determined by the Uniform Prenuptial Agreement Act (UPAA), which the state adopted in 2007. This act establishes guidelines for courts to assess the validity of prenuptial agreements. Despite the recognition of prenuptial agreements, there are several reasons why a court might choose not to enforce them:
| Issue | Description | Legal Consequences |
|---|---|---|
| Absence of a Written and Signed Agreement | Florida law requires that prenuptial agreements be in writing and signed by both parties. | Verbal or oral agreements are unenforceable and may be dismissed by the court. |
| Failure to Provide Full and Fair Disclosure | Each party must fully disclose their assets, debts, and financial obligations before signing. | Lack of disclosure can lead to the agreement being invalidated, even if unintentional. |
| Coercion or Duress During Signing | Agreements must be signed voluntarily and without undue pressure or manipulation. | If coercion or duress is proven, the court may void the agreement. These cases are often fact-specific. |
| 4. Lack of Force Majeure Clause | No protection against unforeseen events that impact contract performance. | Unfair burden of liability and exposure to unlimited or long-term financial claims. |
| Inclusion of Unlawful Terms | Florida law prohibits prenups from including terms about child custody, child support, or visitation. | Including such terms may result in the modification or removal of unlawful clauses—or the entire agreement. |
Absence of a Written and Signed Agreement
Description
Florida law requires that prenuptial agreements be in writing and signed by both parties.
Legal Consequences
Verbal or oral agreements are unenforceable and may be dismissed by the court.
Failure to Provide Full and Fair Disclosure
Description
Each party must fully disclose their assets, debts, and financial obligations before signing.
Legal Consequences
Lack of disclosure can lead to the agreement being invalidated, even if unintentional.
Coercion or Duress During Signing
Description
Agreements must be signed voluntarily and without undue pressure or manipulation.
Legal Consequences
If coercion or duress is proven, the court may void the agreement. These cases are often fact-specific.
Inclusion of Unlawful Terms
Description
Florida law prohibits prenups from including terms about child custody, child support, or visitation.
Legal Consequences
Including such terms may result in the modification or removal of unlawful clauses—or the entire agreement.
Considering these factors and being proactive is important when dealing with prenuptial agreements in Florida. It’s a good idea to consider seeking guidance from experienced family lawyers to help ensure that your agreement is valid and enforceable, especially in case of any changes or disagreements in your marriage.
The Campbell Law Group’s Unique Blend of Business and Family Law Experience
Drafting Prenuptial Agreements requires specific knowledge of business and family law topics. At TCLG, we have extensive experience in various legal areas, including corporate law, commercial law and family law. This breadth of legal experience and skills enables us to handle the complexities of the intersection of financial and familial matters for high-net worth clients. Our dedicated team is committed to offering personalized legal solutions, ensuring the protection of our client’s assets and interests. To see whether a Prenuptial Agreement is right for you: