While some people think prenuptial agreements signify a dysfunctional or failed relationship, that’s not the case. In fact, a prenuptial agreement is a prudent measure in many circumstances and can save couples significant time, money, and energy in the event of a divorce. However, prenuptial agreements have strict requirements in Florida, and you must be sure that any agreement you sign is fair to you and your spouse. Working with a Tampa prenuptial agreement attorney can help protect your rights and ensure the document is correctly drafted.
If you are getting married and have questions about Florida prenuptial agreements, the team at Florida Law Advisers, P.A., can help. A Tampa prenuptial agreement lawyer understands the sensitive issues in these cases and can help you draft an agreement that meets your needs. We have in-depth experience handling Florida family law issues and will make this process easy for you. Call us today or visit our contact page for a free case review.
How Our Tampa Lawyers Help with Prenuptial Agreements
Our Tampa prenuptial agreement attorneys can help with your case by:
- Drafting the agreement and explaining its terms to you and your spouse
- Assisting with the financial disclosures so you know the agreement is fair
- Properly notarizing the document and finding valid witnesses to sign it
- Keeping the agreement in a safe, secure place for future use
- Contesting invalid prenuptial agreements
- Modifying an existing prenuptial agreement
Do I Need a Lawyer for a Prenuptial Agreement?
Technically, you do not need a lawyer to draft a valid prenuptial agreement. However, hiring a Tampa prenuptial agreement lawyer can significantly increase the likelihood that your prenup will be legally valid and put you in the best position should your marriage end in divorce. A lawyer will have the experience and resources to ensure that you avoid issues that might invalidate a prenup.
Furthermore, a prenup can significantly impact your financial future, so you want to protect your rights and property. Having a lawyer review your and your spouse’s assets and debts is an excellent way to ensure the agreement is fair to both spouses.
Finally, you want to make sure the prenup terms are crystal clear. Having a lawyer draft a prenup is your best option to ensure everyone understands what the document says and each spouse’s rights.
What Is a Prenuptial Agreement Under Florida Law?
A prenuptial agreement, sometimes shortened to “prenup,” or a premarital agreement, is a legal document that a couple signs before marriage. Prenuptial agreements can cover many aspects of a marriage, but they typically focus on what will happen to the couple’s shared property during the marriage and in the event of a divorce.
When drafted correctly, a prenup can provide both parties in a marriage with security and peace of mind. Because prenuptial agreements generally must be fair to both parties, neither spouse has to worry about their finances after a divorce. Furthermore, a divorce is often easier, faster, and less emotionally taxing on everyone involved if a couple has already signed a prenup.
The alternative to a prenuptial agreement is a postnuptial agreement, a similar document that a couple signs after marriage. Postnuptial agreements work in much the same way as prenuptial agreements and have similar legal requirements. Whether you are considering a prenuptial or postnuptial agreement, talk to your spouse well ahead of when you want the agreement signed.
Potential Pros and Cons of Prenuptial Agreements
Think carefully before drafting a prenuptial agreement, as these documents have benefits and drawbacks. The benefits of preparing a prenup include the following:
- Protecting family heirlooms and other property to pass on to your heirs
- Addressing critical financial matters with your future spouse before getting married
- Saving you and your spouse time, money, and energy in the event of a divorce
- Protecting yourself from your future spouse’s debts
- Defining what is and isn’t shared marital property
On the other hand, there are certain drawbacks to drafting a prenuptial agreement, such as:
- Financial discussions could cause tension between you and your spouse
- Prenups sometimes favor one spouse over another
- Invalid prenups can create unnecessary legal headaches
When Should You Consider a Prenuptial Agreement?
If you are considering a prenuptial agreement, discussing it with your future spouse as soon as possible is best. If you wait too long to sign the agreement, your spouse might feel pressured to accept even if they disagree with it, which would invalidate the document. Some specific circumstances when couples should consider a prenuptial agreement include the following:
- One future spouse has significantly more assets than the other
- One or both spouses has an ownership stake in a business
- One or both spouses has large debts they will bring to the marriage
- One or both spouses has children from a prior marriage
How Can I Be Sure My Prenup Is Enforceable in Florida?
Like most states, Florida has adopted the Uniform Premarital Agreement Act, which defines what makes a prenup enforceable in any state that has adopted this law. According to the law (the Florida prenuptial agreement statute), a prenuptial agreement is enforceable as long as:
- The agreement is in writing
- The agreement is notarized
- Two witnesses sign the agreement
- Neither spouse signs the agreement under duress or after being coerced
- Both spouses make a full and truthful disclosure of their assets, debts, and income
- The agreement is fair toward both spouses (this does not necessarily mean the couple splits their shared assets equally)
A contract signed by two parties typically requires consideration, which refers to the benefit each party receives in exchange for something they give up or provide. Under Florida law, a premarital agreement is enforceable without consideration other than the marriage itself.
We strongly recommend that an attorney draft your prenuptial agreement and walk you through the necessary steps to make it enforceable. Otherwise, you risk invalidating the agreement and leaving yourself in a precarious position.
What Can a Prenuptial Agreement Cover in Florida?
A prenuptial agreement generally covers the financial aspects of a marriage, including how a couple will divide their shared property in the event of a divorce, what happens to each spouse’s assets upon their death, and so on. Some specific elements a Florida prenup can cover include the following:
- The rights and obligations of each party regarding any property that is acquired by one or both of the parties
- The right to buy, sell, use, transfer, or otherwise manage and control property
- How a couple will divide shared assets in the event of separation, divorce, or death
- 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 prenuptial agreement
- How the parties will divide retirement accounts, pensions, and similar assets in the event of a divorce
- What happens to the proceeds from either spouse’s life insurance policy
- Which state’s laws apply to the agreement, if necessary
- Each spouse’s rights and obligations
It is important to note that a prenup cannot adversely affect any child custody or child support arrangements, as the court must approve all child custody and support orders. A prenuptial agreement lawyer in Tampa can review these matters in detail based on your situation.
How Much Does a Prenup Cost in Florida?
There is no fixed cost for a prenuptial agreement in Florida. How much a prenuptial agreement will cost depends on the law firm, how long it takes a lawyer to draft the agreement, its complexity, and other factors. It is entirely reasonable to ask a law firm how much they charge for prenuptial agreements before you hire them. If the law firm doesn’t give you a clear answer, consider hiring a different firm.
Can I Modify a Prenuptial Agreement?
It is possible, though not easy, to modify a prenuptial agreement in Florida. Both spouses must provide written consent for changing a Florida prenup. This requirement prevents one spouse from unfairly or unlawfully depriving the other spouse of their rightful property.
It is also possible for a spouse to challenge a prenup and render it invalid. For example, if a spouse can show they signed the agreement involuntarily or under duress, the court might invalidate an existing prenup. Similarly, the court might invalidate a prenup if one spouse can show it is “unconscionable,” meaning it is grossly unfair to one spouse.
What Percentage of Couples Sign Prenuptial Agreements?
A recent news report indicates that prenuptial agreements are becoming more popular in the United States, with 15 percent of Americans reporting in one recent year that they had signed a prenup, up from just 3 percent a decade ago. The increasing prevalence of prenuptial agreements has primarily been driven by millennials, with 40 percent of those who signed prenups between ages 18 and 34.
Contact a Tampa Prenuptial Agreement Attorney Today
Asking your future spouse to sign a prenuptial agreement can be daunting, but a prenup can protect you and your spouse from future legal issues. To speak with an experienced Tampa lawyer about your prenuptial agreement, contact Florida Law Advisers, P.A., today. Our dedicated team can answer your legal questions and help secure your future.