Are You Thinking About Asking For A Prenuptial Agreement?
Prenuptial agreements are useful legal tools that can ward off problems down the road, benefiting both parties by ensuring that there is an agreement in place dictating how assets will be divided in the event of divorce. This is only one of the many benefits of entering into a prenuptial agreement, so if you are planning on getting married in 2022 and have questions about whether a prenuptial agreement could be right for you, consider reaching out to an experienced Fort Lauderdale prenuptial and postnuptial agreement lawyer for help.
When a Prenuptial Agreement Can be Helpful
Prenuptial agreements are valid contracts between two people who are planning on getting married that become legally binding and enforceable when the marriage actually takes place. These agreements can change what would happen to assets upon divorce or death by allowing couples to predetermine how their property will be divided. Couples may find this desirable in a variety of circumstances, including when concerned about:
- Preserving premarital wealth;
- Safeguarding an inheritance;
- Protecting complex investments;
- Protecting themselves from debt;
- Keeping a business in the family;
- Protecting family heirlooms or assets for children from previous relationships;
- Planning for a child’s college tuition; and
- Protecting retirement assets.
Besides helping ensure that two parties have access to certain assets in the event of death or divorce, prenuptial agreements can also be used to designate how much alimony one spouse is entitled to and can even address issues like child custody.
Modifying a Prenuptial Agreement
Some couples are wary of entering into prenuptial agreements because they worry that their financial situation will change, making the agreement obsolete or even damaging if they do divorce. Fortunately, prenuptial agreements can be amended, removed, or even thrown out entirely at any time. This, however, can only be achieved through a written agreement signed by the parties.
Enforcing the Contract
Prenuptial agreements are only enforceable if they meet certain requirements. These agreements must, for instance, be in writing, signed by both parties, and notarized. These agreements are also not enforceable if a court finds that:
- Both parties didn’t enter into the agreement voluntarily;
- The agreement was the result of fraud, duress, or coercion; or
- The agreement is unconscionable.
To be deemed unconscionable, the wronged party must be able to prove that he or she:
- Wasn’t given a fair and reasonable disclosure of the other party’s assets or debts;
- Didn’t waive the right to those disclosures; and
- Didn’t have an adequate knowledge of the other party’s debts or assets.
To learn more about the steps you’ll need to take to make your own prenuptial agreement enforceable, please reach out to our office today.
Here to Help with Your Prenuptial Agreement-Related Concerns
Whether a couple should enter into a prenuptial agreement depends on a number of factors. Experienced Florida prenuptial and postnuptial agreement lawyer Sandra Bonfiglio, P.A. can help analyze your situation and if appropriate, help you negotiate, draft, review, or revise your prenuptial agreement. Call us at 954-945-7591 or send us an online message to learn more.