A prenuptial agreement is a type of legal contract entered into by prospective spouses prior to the marriage. A prenuptial agreement becomes effective upon marriage of the parties. Prenuptial agreements can significantly alter the legal rights of spouses, so it is important to obtain an experienced attorney.
Not only are prenuptial agreements used to protect assets, they also allow couples to decide what to do with debts as well.
The following are a list of important areas to include within a prenuptial agreement:
- Spousal support
- Retirement benefits
- Protection from other spouse’s debt
- Financial obligations during the marriage
- Inheritance for children from other marriages
- Management of joint bank accounts and expenses
While Florida courts will enforce prenuptial agreements that comply with the law, a spouse may challenge the enforceability of a prenuptial on several grounds.
Factors that may impact the enforceability of a prenuptial agreement are:
- The parties should exchange full and frank financial disclosure
- The parties should finalize and execute the prenuptial well in advance of the marriage.
- While Florida does not require that each party have separate counsel, it is best for both parties to have separate legal counsel to avoid unnecessary challenges to the enforceability of a prenuptial.
- The prenuptial cannot be the result of fraud, duress, coercion, or overreaching.
- The prenuptial needs to be drafted in writing and signed by the parties.
Contact a Tampa prenuptial agreements lawyer
If you have questions regarding prenuptial agreements, please contact our divorce lawyer at The Law Offices of Patricia Palma, P.A. at 813-258-3211 to make an appointment to discuss your case in detail.