Prenuptial and Postnuptial Agreements

What is Prenuptial Agreement?

A prenuptial agreement is a contract entered into between two unmarried parties who plan to wed and desire to resolve future issues (e.g. assets, alimony, attorney’s fees etc.) in the event of divorce. A prenuptial agreement can also address a party’s rights (e.g. homestead, elective share, and other property rights) in the event of a death during the marriage.

What is a postnuptial agreement?

A postnuptial agreement is a contract entered into by two married parties who intend to resolve future issues (e.g. assets, alimony, attorney’s fees etc.) in the event of divorce.

I am not wealthy. Could a prenuptial agreement still be helpful to me?

Yes. Regardless of your current net worth, there are many ways a prenuptial agreement can be helpful to you if the marriage ends in death or divorce, including the following:

Allows transparency of the financial picture of each party at a critical time in the relationship.
Reduces emotionally taxing conflict in the event the marriage ends.
Avoids financial cost of litigating all of the issues in family court.
Protects your interest in a family business, trust, or property acquired before the marriage.
Provides financial security if you plan to stop working outside the home.
Addresses your legal rights in the event of the death of your spouse.

I have no idea what my fiancé makes or the assets that she has. How do I know what is fair for me?

Before a prenuptial agreement is executed, comprehensive financial disclosure is exchanged between the parties. The financial disclosure typically includes a detailed financial statement and supplemental financial documents. The purpose of exchanging this information is to provide each party with full and fair disclosure of the other’s assets, debts, and income prior to signing the agreement. The disclosure and the legal advice of an experienced Tampa prenuptial agreement attorney will help you decide what is fair in your specific case. Not only will financial disclosure help you determine what is fair, it will also help protect the validity and enforceability of the prenuptial agreement in the future.

We do not have any children yet. Can we include custody and child support in the prenuptial agreement?

Under current Florida law, a prenuptial agreement cannot address “custody” (parenting issues, timesharing, parental responsibility) and child support matters. These matters must be resolved at the time of the divorce.

What is the process for having a prenuptial agreement done before a wedding?

The process for each prenuptial agreement may look different depending on the facts and timeline of your specific case. While your process may be different, it generally occurs as follows:

Each party engages an attorney several months prior to their wedding. One attorney is retained to draft the prenuptial agreement and another attorney is retained to review the prenuptial agreement.
Both parties, through their attorneys, exchange comprehensive financial disclosure.
Both parties, through their attorneys, negotiate and finalize the terms of the prenuptial agreement.
The prenuptial agreement is drafted and/or revised by the attorneys to reflect the finalized terms.
Several weeks or months before the wedding, the parties and their attorneys attend a prenuptial agreement “signing meeting.” Two witnesses, a notary, and a court reporter often attend the signings to document the parties’ signatures.
Each party retains a copy of the financial disclosure and an original prenuptial agreement for their records.
The parties get married.

Do I need a family law attorney for a prenuptial or postnuptial agreement?

Each party is not required to have a lawyer prior to signing a prenuptial or postnuptial agreement. But, a lawyer could make a difference in your outcome and whether your agreement holds up in court. Sometimes, prenuptial agreements signed without the involvement of attorneys can be set aside by the court for several different reasons. An experienced Florida family law attorney can ensure the agreement reflects your desired outcome and protect you from a future challenge to the validity and enforceability of the agreement under Florida law. If you need a prenuptial or postnuptial agreement drafted or were recently presented one to sign, then you should strongly consider consulting with a family law lawyer.

At Larkin Law, we draft and review prenuptial and postnuptial agreements. Click here to schedule a family law consultation with Attorney Lexie Larkin to discuss how we can help you with your prenuptial or postnuptial agreement.