If you are getting married and want to protect your property and assets, then you may need to use a prenuptial agreement. While most people have a basic understanding of what a prenuptial agreement is, many don’t have a complete understanding as to what the agreement entails – especially when they are filing for a divorce.
When a marriage with a prenuptial agreement comes to an end, there are several factors that need to be understood. Some of the specifics are found here.
The Full Impact of a Prenuptial Agreement
In Florida, prenuptial agreements are also referred to as “premarital agreements”. These are agreements between the people who plan on getting married. The agreement is considered legal and in effect when the two people are legally married. The property that is included in this agreement includes personal and real property, as well as income and earnings.
The agreement has to be in writing and hold the signature of both parties. The agreement will typically include information regarding any or all of the following issues:
- The right to transfer, use, sell or do anything else with property
- The property disposition after a couple separates, one spouse dies or the marriage ends
- The creation of a trust, will of other type of agreement for provisions to be handled
- Eliminating, waiving, modifying or establishing spousal support
- Disposition of death benefits and ownership rights to any life insurance policies
- The law that governs the agreement, as well as its construction
- Any additional issue that isn’t considered a violation of Florida law
Additional Considerations for Prenuptial Agreements
Child support is not an issue that is going to be affected by the creation of a prenuptial agreement. The agreement will be in effect as soon as a couple is considered legally married. At any point, if the couple separates or the marriage is ended, the agreement can be abandoned, revoked or changed if there is an agreement in writing that each party has signed. If the marriage is voided, then the premarital agreement is only able to be enforced to the extent where it avoids a result that is inequitable.
It is imperative for anyone who is creating or signing a prenuptial agreement to fully grasp what it means and the impact it may have. Without a full understanding of the laws related to this document, a person may discover they have signed away their right to many things they would prefer to have after their marriage has ended.
Why Hire an Attorney?
For those who are in love, they may believe they will never be getting divorced, so having or not having a prenuptial agreement is not a big deal. Unfortunately, thousands of couples file for divorce each week, and there is no guarantee that even the most happily married of couples will not become a part of this statistic at some point down the road.
You can protect yourself and your assets with a prenuptial agreement. To learn more, contact the family law attorneys at the Estevez-Pazos Law Firm by calling 305-717-7130.