Prenuptial Agreements — A necessary evil?

Prenuptial Agreements -- A necessary evil??

Before the wedding bells sound, many couples today come to our office to have a prenuptial agreement drafted. This is especially common in second marriages, where the husband or wife have children from a prior marriage.

For many, it’s a necessary evil. Everyone wants to protect themselves. But who wants to talk about what happens in a divorce … when you’re planning the wedding?

Nothing can test a couple more than drafting these agreements, and nothing is a better indicator of how well the couple can work together.

Prenuptial agreements have been around a long time, and they can provide peace of mind to those who have scrimped and saved for years before meeting their soul mate. The basic requirements of any prenuptial agreement are outlined in the Florida Uniform Premarital Agreement Act.

A prenuptial agreement is generally enforceable as long as the following things have been met:

(1) the agreement was voluntarily signed by both parties;

(2) there was no fraud or duress;

(3) the parties fully disclosed their finances to each other, and;

(4) the agreement is not unconscionable.

The Fourth requirement is relatively new, but is consistent with the court’s role as a Court of Equity. The agreement becomes effective when the parties marry, and the agreement can be revoked or amended only in writing.

Going into a second marriage? Consider having a prenuptial agreement if you have kids from a prior relationship.

Here’s a video with some details on these types of agreements.

I have drafted many prenuptial agreements, and I have handled many divorces which involved a prenuptial agreement. To me, they are essential for anyone who has acquired assets in a prior marriage. If you or a friend have questions about these type of agreements, please feel free to contact us.   We will be happy to help you.