What Do You Know About Prenuptial Agreements in Florida?
Here’s 10 questions and answers to test your knowledge of prenuptial agreements, you might be surprised!
There are many uncertainties about prenuptial agreements. Which ones are true and which ones are false? Take our true or false quiz below to find out more.
True • Any couple can have a prenuptial agreement. The key word here is “couple”. Both parties must want (without coercion), sign and have witnessed, and notarized the completed agreement for the prenuptial agreement to be legally binding.
2. You have to be rich to hire a legal professional to draw-up a prenuptial agreement • True or False?
False • As with most legal actions hiring an attorney can be expensive but it isn’t necessary to be rich to obtain a prenuptial agreement. When considering the cost of many weddings, vacation trips, or up-to-date electronics found in most homes, a prenuptial agreement prepared by a legal professional is cost effective and well worth knowing the final document will likely stand in court should it be needed in the future.
True • Assets and money belonging to a child as well as beneficiary rights from insurance policies should the natural parent pass away during the marriage can be protected by a correctly prepared prenuptial agreement.
4. The divorce rate is slowly decreasing so prenuptial agreements are not really needed • True or False?
False • While it is true divorce rates are slowing declining, over-all they still hover around 50% while second marriages and further are at even higher rates of failing. Observation tells you how often those terminating their marriages find themselves without important assets and properties and saddled with, in their opinion, unfair debt due to (in Florida) equitable distribution of marital assets and debts. There are many ways a premarital agreement can help a couple to maintain what is individually theirs before marriage. An experienced Family Law attorney will know what can and can’t be included in a prenuptial agreement as well as how to prepare one that will hold up in court.
True • Both parties can benefit from a prenuptial agreement. While historically men usually had the property, income, and assets today’s women are often at par with the man and sometimes even have more. Particularly in later life, (1 in 10 divorces are with couples over age 65), it is important to maintain personal assets and not take on undeserved liabilities. The best thing is that the couple, themselves, can help determine “who gets what” and not leave that decision to a judge should mediation (required in Florida before the court will hear a dissolution of marriage case) fail.
False • Most properly prepared, signed, and notarized by each party, and witnessed prenuptial agreements will be upheld in in court. However, if either party has lied, falsified, or eliminated essential information from the in-depth financial disclosure required prior to signing; if either party did not speak or understand English and had no interpreter; if either party had funds for legal counsel but the other party didn’t, the judge will usually set the prenuptial agreement aside.
7. Prenuptial agreements can include child support, parental timesharing, temporary alimony, and attorney fee arrangements • True or False?
False • Child support, parental timesharing, temporary alimony, and attorney fees cannot be included in a Florida prenuptial agreement
8. Prenuptial agreements can evidence each party is entering into marriage with their “head” as well as their “heart” • True or False?
True • A healthy relationship should include the ability to think and plan together as well as receive emotional and physical fulfillment. Looking at the future in a realistic way with the “head” knowledge that many marriage do fail even when a couple before marriage is so sure theirs won’t, especially when there are personal assets, property, and liabilities, and children from prior relationships, just makes sense. Here is where the “head” can help the “heart” to make good choices.
False • Prenuptial agreements can be changed or modified after marriage if both parties agree and the changes are signed and notarized by both and witnessed.
10. When you want a prenuptial agreement an experienced Family Law Attorney is the best person to give advice, prepare the legal document, and make sure signatures are correct, notarized, and witnessed • True of False?
True • If you want your prenuptial agreement to be honored by the court it is wise to use an experienced Family Law Attorney such as Grant Gisondo. His office is in West Palm Beach and he serves Palm Beach, Martin, St. Lucie, Miami-Dade, Broward, Orange, and Hillsborough counties. Each case has its individual concerns and Attorney Gisondo can help you look at each of yours as well as make sure your prenuptial agreement meets all the requirements for the Florida courts. He will meet with you personally for a free, initial, in-office consultation. Call his office at (561) 530-4568 to make an appointment.