How To Write A Valid Prenuptial Agreement
Television and movies have stereotyped prenuptial agreements, also known as premarital agreements, as contracts that give everything to one spouse and leave the other with nothing. However, in reality prenuptial agreements can be beneficial to both parties entering into a marriage if written properly. The experienced and dedicated Orlando lawyers at the Donna Hung Law Group are skilled at drafting prenuptial agreements that allow both people to feel supported no matter what happens in the future. To learn more about what constitutes a valid prenuptial agreement, talk to our office today.
What is a Prenuptial Agreement?
A prenuptial agreement is a contract between a couple that is signed prior to the marriage. In it, the document identifies the property interests of both parties as well as any specific issues unique to the couple. A prenuptial agreement is a great way to divvy up real estate, protect business interests, and reinforce estate plans if the couple is blending a family. However, in order to create a valid prenuptial agreement, certain requirements must be met under Florida law.
The first element of a valid prenuptial agreement is meeting the procedural requirements for drafting the contract. All prenuptial agreements must be in writing and signed voluntarily by both parties. This means that each person gets the opportunity to review the agreement with their own legal counsel prior to signing and that they do so without coercion or duress. An example of coercion or duress would be demanding that one person sign the agreement right before walking down the aisle at the wedding.
Full Disclosure of Assets
The second element required for a valid prenuptial agreement is a full disclosure of assets by each party. Each person must have a full understanding of the finances of the other in order to properly identify property interests in a prenuptial agreement. A person may waive their right to receive a full disclosure of the other’s assets, but that agreement must also be in writing. If one person did not waive that right and the other is caught hiding assets or liabilities, it can invalidate the prenuptial agreement.
The final element of a valid prenuptial agreement is that the terms within it must be conscionable. This means that the terms must be fair and reasonably equitable, so one person cannot retain all of the assets and leave the other with nothing. The terms within this document must also not go against the public welfare or make unreasonable demands on a spouse in exchange for certain property interests. Common examples include demanding certain intimate acts or requiring housekeeping duties in exchange for assets.
Call or Contact Our Office Today
Are you interested in drafting a prenuptial agreement prior to your wedding day? If so, the skilled Orlando family law attorneys at the Donna Hung Law Group are here to help. To schedule an initial consultation of your legal needs, call the office or contact us online today.