When celebrities and wealthy people get divorced, details about those legal proceedings usually make the news headlines. And, one term that often comes up in those cases is "prenuptial agreement." Our readers in Florida probably know that the point of these documents is to protect assets and keep them separate in the event that a marriage ends in divorce. But, could bad drafting and negotiating in the lead up to signing the document actually invalidate a "prenup"?
As readers of this Florida-based family law blog know, marriage is an important decision because it has legal significance. When a person gets married, they lose their status as a single person, and for many purposes their identity is tied to that of their spouse. Married people often share property, wealth and decision-making power with their partners.
To some, making important financial and personal decisions about how their divorces will proceed even before they are married may seem fatalistic or even depressing. For others, having these and other matters addressed prior to their wedding dates can provide security and peace since they know that they have communicated with their partners about important decisions. Floridians who want to learn more about prenuptial agreements can discuss them with their family law attorneys, but readers should know that some topics cannot be addressed in premarital agreements and contracts.
Although some Florida residents may dismiss prenuptial agreements as unnecessary, it is a good idea for anyone who is planning to get married to educate themselves on what prenuptial agreements can and cannot do for their financial interests. There are some considerations people may want to keep in mind to decide if a prenuptial agreement is right for them.
A prenuptial agreement is a contract that two people enter into when they decide that they want to be married. As with all contracts, Florida residents who desire to create prenuptial agreements should ensure that their interests are represented and protected in their documents before they sign them and make them binding. Certain factors that may be present during the course of the creation of a prenup may, however, subject it to challenges of fairness should the partners to the couple later choose to divorce.
Most individuals who choose to execute prenuptial agreements do so because they have compelling property or financial interests that they want to protect. In Florida, couples who wish to execute prenuptial agreements may do so and may see those documents enforced in the event that they later divorce. In some cases, they may find that the terms they agreed to prior to their marriages are no longer in their interests.
A prenuptial agreement can be a good tool for two people to utilize to make important financial and property-based decisions before they get married. Prior posts on this Florida family law and divorce blog have outlined the requirements individuals must fulfill to make prenuptial agreements and the ways that prenups may be rendered invalid. This post will discuss one important topic that cannot be addressed in a prenuptial agreement: child custody.
It seems like whenever a celebrity couple goes through a divorce most of their financial concerns are managed through the interpretation and application of their prenuptial agreement. As previously discussed on this Florida family law blog, prenuptial agreements, also known as prenups, are contracts that individuals make with their future spouses that outline how they will divide up their financial assets and property if they divorce. Not all individuals may choose to enter into prenups before they wed but people planning to marry may wish to ask themselves several important questions before they definitively decide against creating them.
Like other contracts, prenuptial agreements must be reviewed and agreed to by both of the parties who sign off on their terms. Tampa couples may enter into prenuptial agreements before getting married to spell out their financial expectations during their marriages as well as in the event of their divorces. However, not every prenuptial agreement that is created will stand up in court. Many of the ways that a prenuptial agreement may be invalidated arise from one of the parties to it facing significant hardships.
While no couple actually needs a prenuptial agreement to satisfy the requirements of the state's marriage statute, many couples can benefit from having these important documents in place prior to formalizing their relationships through marriage. To that end, any couple, from the very rich to those of modest means, may benefit from signing a prenuptial agreement before entering into a marital union.