January 20, 2012

Do I Owe Temporary Alimony or Attorney Fees in a Florida Divorce with a Prenuptial, Postnuptial or other Marital Agreement?

1097209_shaking_hands.jpgFlorida recognizes the use of premarital and post marital agreements when deciding the outcome or possible outcome of a divorce. In some cases, during the marriage the parties may find themselves thinking of divorcing and may enter into a marital settlement agreement, but ultimately not have the agreement entered with the court because they are able to reconcile the marriage, this too is valid in Florida. When parties decide to divorce any agreement between the parties, whether premarital agreement, post marital agreement or a prior marital settlement agreement that allows for enforcement later if the parties reconcile, can be construed as an enforceable contract in the divorce proceedings. As a Jacksonville divorce lawyer, issues can arise regarding the enforceability of the agreement and in order to fight the document, the parties may need to hire separate attorneys, potentially leaving one of the parties needing financial assistance during the contest of the divorce. Therefore, Florida case law allows for temporary support to be awarded for temporary alimony and attorney fees.

Enforcing or contesting a premarital agreement, post marital agreement, or a marital settlement agreement may require attorney time and costs. In order for an agreement to be contested, the issues that come to question are laid out in Florida Statute 61.079. Premarital agreements are enforceable unless it can be shown that one or more of the following occurred:

1. The agreement was not entered into voluntarily by both parties;
2. The agreement is the result of fraud, duress, coercion or overreaching (e.g. Hiding a bank account with thousands of dollars.)
3. The agreement was not done in good conscience and before the signing:
a. There was not a true disclosure of assets of debts;
b. There was no waiver of such a disclosure by either party; and
c. The other party could not have known of the hidden asset or debt.

The same provisions would be necessary in any agreement such post marital or marital settlement agreements. The court ultimately has to decide whether an agreement was reach in an unconscionable manner.

The real trick to most agreements is that the parties have to be in full disclosure of assets and liabilities so that they know what is being agreed upon. The reality is that full disclosure leads the parties to more open conversation about the future wants and needs and the ability to provide for such. Not doing so would lead the possibility of entering in an agreement that benefits only one party and ultimately leaves the other in a worse position than had the agreement not been signed. Communication and understanding of a contract and its related terms goes directly the enforceability of said contract and helps in future litigation. If the parties do not meet all criteria for such an agreement, then the agreement may be put aside and the court could make the parties proceed as if an agreement never existed. Again, agreement cannot waive a party’s right to spousal support and attorney fees that may be necessary temporarily while the validity of the agreement is contested in the Court. However, both parties can work at reducing the length of time necessary to contest such agreements.

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December 21, 2011

Why Would I Want a Prenuptial Agreement in Florida?

1229225_wedding_cake_1.jpgIn accordance with the latest Census and ABC News, men and women are waiting longer to get married and the thought is that it decreases the chances for divorce. While studies seem to support the concept, as a Jacksonville, Florida divorce and family lawyer, looking at a marriage later in life also gives rise to new difficulties. As we wait to marry, our value also increases with home buying, retirement assets, career opportunities, business development and the like. So, once you are ready to take the plunge into marriage is there still a way to protect yourself from having to divide up what you have worked so hard to achieve? In Florida, there is an option of a prenuptial agreement, which must be completed, in good faith prior to the marriage.

Prenuptial agreements are outlined in the Florida statutes. However, understanding the provisions before entering the agreement is vital because you do not want to sign away things that you may otherwise be entitled to in case the worse were to occur. When looking to have a prenuptial agreement many people thing there is a stigma attached. However, it is not about planning for your marriage to fail, but insuring that you are protected if the unexpected were to occur. Since marriage can be a tricky relationship for those who have done it for even 30 years, the idea is to simply think about your finances before saying, “I do,” so that you are both protected in the years to come.

Florida Statute 61.079 defines a prenuptial agreement as, “…an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage.” To put it simply, it is a contract between fiancés before the contract of marriage is completed. The idea of the agreement is to simply separate out what assets belong to what parties before the marriage, during the marriage and at the end of the marriage, if a divorce were to occur. The idea is to also leave as much out of litigation if divorce were to occur, so that way neither party is tied up in an unnecessary legal battle. The most popular example of this type of agreement working is the Tiger Woods divorce. Since there was a prenuptial agreement, the Woods’ were not in divorce battle for years, which could have easily occurred without the prior contract.

A prenuptial agreement simply divides property of the parties, establishes how the asset may grow over time and if the asset were to grow, which party or parties would have rights to the asset. For example, a home purchased by one prospective spouse before the marriage is actually a nonmarital asset at the time of the marriage. The value of the home should grow in value over time and that value increase may be considered marital. The prenuptial agreement can actually outline that so it is not a point of argument down the road for the parties if they were to divorce.

Speaking with a family law attorney can be helpful to better understand your rights and options as they relate to your situation and to help guide you to knowing whether a prenuptial agreement is right for you.

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