A Florida prenuptial agreement is a legal contract entered into by individuals planning to marry. The primary purpose of such agreements is to establish the rights and obligations of each party concerning their assets, debts, and other financial matters in the event of a divorce, separation, or the death of one spouse.
The document outlines the division of marital property, spousal support, and the handling of individual debts. It cannot dictate matters related to child custody or child support. State law emphasizes the importance of full financial disclosure, voluntariness, and fairness during the agreement’s creation.
Legal Considerations
Laws:
- § 61.079 – Premarital agreements
- Flaherty v. Flaherty, 128 So. 3d 920 (Fla. Dist. Ct. App. 2013) – Case
Signing Requirements: It needs to be documented in writing and bear the signatures of both parties, and its enforceability is not contingent upon any consideration other than the marriage itself (§ 61.079 (3)).
Dividing Property: Equitable division (§ 61.075).
Enforceability Requirements
- Essential Terms for Validity: Must be in written form and contain lawful terms. The signatures should be obtained voluntarily, free from any form of coercion or deceit. While notarization is not mandatory, it is recommended for added security.
- Terms to Exclude: Provisions that violate the public policy of the state or contravene any laws imposing criminal penalties. Additionally, the agreement cannot compromise or waive the rights of a child to support or custody.
- Attorney Representation: The state mandates legal representation for both parties when reviewing a prenup. Each party must engage their own separate attorney. Failure to undergo this legal review may result in the court invalidating the document during divorce proceedings, leading to the division of assets according to state law rather than the preferences outlined in the agreement.
Financial Disclosure
Adequate financial disclosure involves fair and reasonable information regarding all sources of income, assets, and debts of both parties. To ensure validity, parties also must not voluntarily and expressly waive, in writing, any right to disclosure beyond what has been provided. Additionally, they should possess or reasonably be expected to have adequate knowledge of the property and financial obligations of the other party (§ 61.079 (7)(a)).
