“Love and marriage go together like a horse and carriage,” crooned Frank Sinatra. But when your betrothed requests a prenuptial agreement, suddenly potholes appear in the romantic road to the wedding. Take the time to understand a prenup can be a constructive and smart way to smooth out potential bumps in the marital road.
Reasons for a premarital agreement
Basically a premarital agreement is a legal contract between two engaged people that can set out terms for marital behavior and financial outcomes during or at the end of the future marriage. The agreement becomes valid upon the marriage. The couple can contract about almost anything except child support, alimony so insufficient that it would impoverish the recipient, matters that violate public policy or that could constitute a crime.
That leaves a lot of topics for negotiation, but the main object of a prenuptial agreement is usually financial. Often the couple will agree about what happens to assets and liabilities upon separation, divorce or death, including potentially family businesses, heirlooms, insurance proceeds, real estate and others. In many cases, in anticipation of a second or subsequent marriage, one partner wants to see that children from previous relationships receive wealth, real estate or heirlooms with sentimental or significant ties to their other parent.
Prenups cannot be coercive
Florida law addresses the stereotypical shock of being presented with a premarital agreement the day before the wedding as a condition of going through with the ceremony. For example, a prenup may be unenforceable if signed under duress, if shockingly unfair (unconscionable) while the signor did not know about all of the other’s property and debts, and in other similar inequitable situations.
Get legal advice
It can be especially important for anyone presented with or contemplating a premarital agreement to discuss it first with an experienced Florida family lawyer. The ramifications of signing without full understanding of the terms can be life changing. An attorney can negotiate on behalf of a marital partner, draft terms to propose or review those drafted by another.
