Prenups in Florida Require Full Financial Disclosure

963935_mortgage_and_money_2.jpgPrenuptial agreements are enforceable in Florida if all provisions are met, especially the full disclosure of assets and liabilities to each party. In a divorce, full disclosure is necessary and required by Florida law. In developing a prenuptial agreement, the same is true because both parties have to have a full snapshot of the other party’s assets and liabilities before agreeing to the financial breakdown in case divorce was eminent. A full premarital financial disclosure is actually a tool that can be helpful in a relationship because both parties have an opportunity to better understand what they are walking into at the end of the aisle. A marriage is based on the joining of two people, but also the joining of their, “stuff.” So, having a full picture is helpful in knowing what challenges and expectations may be ahead for the couple.
Full disclosure of assets means that you are both providing bank statements, investment statements, trust holdings, properties, etc. Both parties need a clear understanding of what the other has so that the agreement can be drafted to protect them both and not just one party. A prenup is not intended to be a body of armor for the party with the most, but is designed to make certain that if the marriage were to fail, that there are contentions in place for how to divide marital assets and decide which assets are actually marital and nonmarital.
Though it may feel like planning for the marriage to fall apart, the truth is that is actually helps people to plan their life together effectively because it brings issues to the forefront where they may have never otherwise been addressed until an argument occurs.

If a prenuptial agreement seems to be right for you, contact a family law attorney to discuss your rights and options.

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