Prenuptial Agreements

Prenuptial and Postnuptial Agreements

Would you sky dive without a spare parachute? When two people love each-other unconditionally, the last thing on their mind is planning for a worst case scenario but the truth is that you never really know what life has in store for you. In fact, when you really love someone you don’t want to do them harm, on the contrary, you want to plan for the worst when you are at your best. Divorces can be nasty sometimes and many of the horrible arguments that couples have to endure in a divorce could have been avoided had the couple respected and loved each-other enough to sit down and plan when they were calm, composed and reasonable.

Prenuptial Agreement

A prenuptial agreement is legally known as a premarital agreement. This is a legal agreement between two people that becomes binding upon marriage and determines financial strategies for both individuals in the event of a divorce. Florida Statute 61.079 and the Uniform Premarital Agreement Act (UPAA) govern prenuptial agreements.

Postnuptial Agreement

A postnuptial agreement is legally referred to as a “postmarital agreement”. Similar to a premarital agreement, the postmarital agreement identifies how the parties’ assets will be divided and split in the event of a divorce. The difference is that the postmarital agreement is specifically designed for couples that are already married or currently in a civil union.

Requirements

Both premarital and postmarital share some similarities when it comes to necessary requirements in order to make the agreements binding. Some of these requirements include:

• The agreement must be in writing.
• Both parties must sign the agreement voluntarily and intentionally.
• Both parties must make a full and fair disclosure to one another of their income, assets and liabilities.
• The agreement cannot be unconscionable or completely one-sided.
• In Florida the agreements must meet the state requirements under the law in order to make them enforceable and binding.

It’s essential that you contact an experienced attorney to draft these agreements because there are numerous legal requirements that must be fully met in order for prenuptial and postnuptial agreements to be legally binding.