Premarital agreements, also known as prenuptial agreements, are legal contracts between two parties planning to get married. These agreements outline how assets and debts will be divided in the event of a divorce or death. In Florida, premarital agreements are governed by the Uniform Premarital Agreement Act (UPAA).
Why Should You Consider a Premarital Agreement in Florida?
There are several reasons why couples in Florida should consider a premarital agreement:
1. Protect assets: A premarital agreement can protect your assets from being divided in a divorce settlement. This is particularly important if you have substantial assets that you do not want to lose in the event of a divorce.
2. Simplify the divorce process: A premarital agreement can simplify the divorce process by outlining how assets will be divided, which can make the process less time-consuming and stressful.
3. Protect a family business: If you own a family business, a premarital agreement can protect it from being divided in a divorce settlement.
4. Avoid disputes: A premarital agreement can help avoid disputes over assets and debts if the marriage ends in divorce.
What Can Be Included in a Premarital Agreement in Florida?
A premarital agreement in Florida can include a wide range of provisions, including:
1. Division of property: A premarital agreement can outline how assets will be divided in the event of a divorce.
2. Debt: A premarital agreement can allocate responsibility for paying off debts incurred during the marriage.
3. Spousal support: A premarital agreement can determine whether one spouse will pay alimony to the other in the event of a divorce.
4. Inheritance: A premarital agreement can outline how inheritance will be distributed in the event of a divorce.
5. Retirement accounts: A premarital agreement can determine how retirement accounts will be divided in the event of a divorce.
What Cannot Be Included in a Premarital Agreement in Florida?
There are some limitations to what can be included in a premarital agreement in Florida. For example, a premarital agreement cannot:
1. Encourage divorce: A premarital agreement cannot include provisions that encourage divorce or limit a spouse`s access to legal remedies.
2. Child support: A premarital agreement cannot waive a spouse`s right to child support.
3. Child custody: A premarital agreement cannot determine child custody arrangements.
4. Illegal activities: A premarital agreement cannot include provisions that encourage illegal activities.
Conclusion
A premarital agreement can provide peace of mind for couples planning to get married in Florida. By outlining how assets and debts will be divided in the event of a divorce, a premarital agreement can help avoid disputes and simplify the divorce process. If you are considering a premarital agreement, it is important to consult with an experienced family law attorney who can guide you through the process and ensure that your agreement is legally enforceable.
