Potential Advantages Of A Florida Prenuptial Agreement
Quite a lot of ink has been spilled about potential issues that can happen if you and your spouse execute a prenuptial agreement – but there are several potential advantages that you can take advantage of as well, particularly if this is a second marriage for either or both of you. If you or your spouse are on the proverbial fence about having a prenup for your marriage, consulting an experienced family lawyer may help to get them cleared up.
Protecting Your Assets
By far the most immediate benefit of a prenup for Florida couples is the peace of mind that comes with knowing how their assets will be managed in the future. A prenup is essentially a contract in which each spouse can specify how certain legal issues are to be handled if they come up in the future. Florida law allows two parties to a prenup to contract on nearly any subject – the only real exceptions have to do with the rights to child support, because that right belongs to the child, and is not the parents’ to bargain away.
Because of this openness, however, this means that the spouses can specify almost any financial arrangement they wish (unless it would be unlawful or against public policy). If a spouse has property that they want to keep separate, rather than allowing it to become ‘marital’ property, a prenup is the place to state that wish. While it is still possible for a piece of separate property to inadvertently become marital property, there will be a presumption that a certain asset is separate property if specified as such in a prenup. This can provide significant peace of mind for many couples.
Protecting Your Children
The other major advantage to a prenup comes to couples in second marriages; establishing a prenup can set clear boundaries on whose assets are whose. Florida’s inheritance laws can be convoluted, and they are designed to benefit the spouse and children of the most current marriage, which can leave adopted children, stepchildren, or even biological children from a previous marriage out in the proverbial cold.
A prenuptial agreement will almost always supersede Florida’s intestate succession, and in many situations, will even supersede a last will and testament, though most of the time, prenups are designed to bolster the strength of a will. Each case is different, but in general, Florida courts will honor prenuptial agreements unless they have clearly been executed under duress or as a result of fraud – thus, it is crucial to ensure that your prenup is executed correctly.
Contact A Hollywood, FL Prenuptial Agreement Attorney
The use of prenuptial agreements is becoming much more common than it used to be in years past, particularly since more and more blended families are being created. If you have questions or concerns about whether you and your spouse should execute one for your marriage, contacting a Hollywood family attorney from the Law Offices of Steven A. Mason, P.A. may be the first step toward getting them answered. Call our offices today to speak to an attorney.