Florida Statute 61.079 governs premarital agreements in Florida.The definition of a premarital agreement per the statute is “an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage”. The agreement must be in writing and signed by both parties and is enforceable with no other consideration than the marriage itself.
The parties to a premarital agreement can contract with respect to property and its disposition, spousal support, the making of a will or trust to carry out the agreement, benefits from life insurance policies, the choice of law governing the agreement, and any other rights not in violation of law or public policy. Premarital agreements can be amended after the marriage with the consent of both parties.
Whether you need a premarital agreement in Florida is a personal decision. There is no right or wrong answer to the question posed in this article. However, you should take a careful look at your particular situation to decide if you need one. Some factors to consider are:
1) Disparity in income between the parties,
2) Whether one spouse has a number of family heirlooms that are valuable or a prior inheritance,
3) Prior marriages and debts,
4) Whether you are getting married for love or necessity (ie. unplanned pregnancy or immigration issue),
5) Extensive premarital assets including retirement benefits, or
6) One spouse owns a business and doesn’t want to risk the other spouse getting an interest in a divorce.
Failing to plan in any of the above scenarios could cost you a bundle should you go your separate ways.
If you have questions regarding a premarital agreement in Florida call a Florida Family Law Attorney.