Florida Prenuptial Agreements
When most people think about prenuptial, or premarital, agreements they think of the television stereotype: the older, wealthier husband forcing his new, younger wife to sign away her rights in the event of divorce. However, prenuptial agreements can be incredibly beneficial to couples who would like to determine their own financial futures in case of divorce and begin to establish their estate plans. A prenuptial agreement is a contract signed before the marriage between a couple that determines how issues of property distribution, alimony, and other financial matters will be handled during a divorce. The office of Blair H. Chan, III in Tampa is happy to schedule an appointment to discuss how a premarital agreement could help you.
When Should You Get a Prenuptial Agreement?
Prenuptial agreements can be beneficial to any couple that wishes to establish their financial futures ahead of a wedding. However, there are certain circumstances where a premarital agreement can bring peace of mind to you and your family. Couples are more likely to get a prenuptial agreement if they are coming into the marriage with their own assets that they would like to protect in a divorce or business interests that they would like to keep separate if the marriage fails. Couples with children from a previous relationship can also utilize a premarital agreement to protect a future inheritance and clarify what property will pass along to those children.
What Does a Premarital Agreement Cover?
A prenuptial agreement can cover any item a couple can think of so long as it does not violate law or public policy. However, a typical premarital agreement covers the financial rights of each spouse during a divorce as well as the obligations of each person during and after the marriage. Some of the most common issues covered in a premarital agreement include:
- Each spouse’s ability to maintain and control property during the marriage
- How the couple will divide marital property in divorce, death, or another triggering event
- Whether one spouse will pay alimony to the other spouse during a separation or divorce, and if so, how much and for how long
- Provisions for retirement funds, pensions, and similar accounts
- Provisions for the distribution of life insurance and other beneficiary policies
- Provisions for adultery or other bad acts that happen during the course of the marriage
- Whether the couple is required to draft a final will and testament to carry out the terms of the premarital agreement
- If necessary, which state’s laws will be used to interpret the agreement
It is important to note that there are a couple of items that a prenuptial agreement cannot dictate. A Florida prenuptial agreement cannot dictate the terms of child custody, visitation, or child support in the event of a divorce. The court determines these issues based on what is in the best interests of the child, and a prenuptial agreement cannot supplant the will of the court.
Talk To Our Office Today
To learn more about this, call or contact the office of Blair H. Chan, III to speak with a dedicated Tampa prenuptial & premarital agreements attorney today.