Things to Consider in a Prenuptial Agreement
Things to Consider in a Prenuptial Agreement: While prenuptial and postnuptial agreements offer the benefit of certainty and accord between couples, they can be invalidated by a court if not properly executed. A prenuptial agreement is entered into before the marriage, while a postnuptial agreement is executed after the marriage.
Although the contracts are executed during different periods of the relationship, prenuptial and postnuptial agreements serve a similar purpose. Marital and premarital agreements are helpful in making decisions that involve both joint and separate property and assets. They are intended to resolve issues such as the division of marital property, elimination of conflict, and to protect children’s property rights from the opposing spouse or potential spouse.
To be considered a valid contract under Florida law, both a prenuptial and postnuptial agreements must be in writing and voluntarily signed by both parties absent any unconscionable act, threat, coercion, duress, or bribery. Under a prenuptial agreement, if the couple breaks up or never gets married, the contract is not enforceable.
For both, prenuptial and postnuptial agreements, both parties must fully disclose their financial obligations, including all assets and any liabilities to third parties. If certain income sources such as investments are not revealed, a court may determine the contract was executed under false pretenses and is therefore invalid. When challenging the validity of a marital or premarital contract, unless proven otherwise with compelling evidence, the court will assume that the agreement is valid. So it is up to the parties and their attorneys to show just cause to invalidate the contract.
To be sure your prenuptial and postnuptial agreements meet the requirements for a valid contract under Florida law, hire an attorney to represent you and your interests. Each party should have their own attorney. Before you sign any contract, you should have your family attorney look it over to be sure that the terms account for your rights and your wishes. Read through the agreement thoroughly before signing and only agree to the terms if you’re 100% certain.
If for some reason you entered a postnuptial or prenuptial agreement and now you want out of it, in Florida, under certain circumstances, the contract can be set aside. The simplest way to invalidate the agreement is if both parties agree in writing that they no longer wish to honor the contract.
Recent Comments