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A premarital agreement (or prenuptial agreement) is an agreement made by prospective spouses in contemplation (before) of marriage. A premarital agreement is often considered “unromantic” by many, but in today’s society, it is necessary to protect your assets in the event that you and your spouse to be separate or get a divorce. It can also set up agreements within the marriage, for example, what obligations are to be met by each spouse during the course of the marriage.
In Florida, premarital agreements are governed by Florida Statutes Section 61.079, which is often cited as the “Uniform Premarital Agreement Act”. Under Florida law, premarital agreements must be made in writing and signed by both parties. In accordance with the Uniform Premarital Agreement Act, a premarital agreement can cover a variety of things, including but not limited to:
1. The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located;
2. The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;
3. The disposition of property upon separation, marital dissolution, death, or the occurrence or nonoccurrence of any other event;
4. The establishment, modification, waiver, or elimination of spousal support;
5. The making of a will, trust, or other arrangement to carry out the provisions of the agreement;
6. The ownership rights in and disposition of the death benefit from a life insurance policy;
7. The choice of law governing the construction of the agreement; and
8. Any other matter, including their personal rights and obligations, not in violation of either the public policy of this state or a law imposing a criminal penalty.
The terms of a prenuptial agreement can be complicated, as these agreements are highly customizable to the circumstances and needs of the couple to be married. It is essential that you consult with an experienced attorney who can assist you in the creation and legalization of your pre-nuptial agreement. At Estefano Law, P.A., our goal is to make the agreement process as smooth as possible and to create an agreement that works for you and your future family.