What Can A Florida Prenuptial Agreement Cover And What Can It Not Cover?
Currently, more people are signing prenuptial agreements before marriage than ever before. According to a 2018 CNBC article, prenuptial agreements have grown popular, especially among millennials. If you are one of the many couples in Florida who are thinking of signing a prenuptial agreement, your next step is to decide what to include in your prenup.
Here is a look at what a Florida prenuptial agreement can cover and what it cannot cover.
What Can a Florida Prenuptial Agreement Cover?
A Florida prenuptial agreement can cover a distinction between marital and separate property. Usually, property acquired during a marriage is considered marital property, and property acquired before marriage is regarded as separate/individual property. Upon divorce, it is generally marital property that gets divided between spouses. Still, it is not uncommon for a spouse to claim his or her spouse’s separate property during divorce. Without a prenuptial agreement, your spouse could try to get a share of your individual property in the event of a divorce. A prenuptial agreement allows you to make it clear which property belongs to who and who should get which property upon divorce.
Second, in a Florida prenuptial agreement, you can include protections against your spouse’s debts. In your prenup, you can state clearly that each spouse is liable for the debts he or she had before the marriage, meaning that creditors cannot go after you or your property in an attempt to make you pay for a debt that your spouse had before you got married to him or her.
Third, a Florida prenuptial agreement can contain details of each spouse’s incomes and how those incomes will be treated and divided. Since ordinary income during a marriage is typically considered as marital, that can be changed via a prenuptial agreement
Below are other things that can be covered in a Florida prenuptial agreement;
- Protections that can enable you to keep your family’s property or business in the family
- Waiving rights to alimony
- Waiving rights to benefits at death
What Can a Florida Prenuptial Agreement Not Cover?
First of all, your Florida prenuptial agreement cannot include provisions that violate the law. If you include anything unlawful in your Florida prenuptial agreement, the prenup will be deemed invalid, in part or in whole.
Secondly, your Florida prenuptial agreement cannot include child support and timesharing decisions. For example, you cannot indicate in your prenup how much you want to pay as child support in the event of a divorce. The court will have the final decision making authority when it comes to matters to do with parenting plans, timesharing, and child support.
Below are some of the other things you cannot include in a Florida prenup:
- Certain waivers of rights to alimony: For instance, if you waive your rights to spousal
Contact a Jacksonville Prenuptial Agreement Lawyer