The New Prenup
Premarital agreements now address financial and emotional issues.
For many years, only super-rich couples with substantial nonmarital assets bothered with premarital agreements. The rules were so complex and subjective that an enforceable prenup in one county might have been unenforceable in another one, and vice versa. Recently, however, Florida lawmakers approved a version of the Uniform Marital and Premarital Agreements Act. Now, the rules are consistent and objective, at least for the most part.
The legal change has prompted increased interest in prenuptial agreements, especially among Millennial couples who are determined to make their marriages last. So, for a Brandon family law attorney, a prenup is more than “divorce insurance.” A prenup establishes a firm foundation for a union, and we all know what a big difference a firm foundation makes.
The New Interpretation of Prenups
A premarital agreement is no longer divorce insurance, as stated above. Instead, in many ways, a prenuptial agreement is like a life insurance policy.
No one wants or expects to die early. But especially after they get married and have families, responsible people buy life insurance policies. So, their loved ones are protected if the unexpected happens.
Similarly, no one wants or expects a divorce. Nevertheless, especially if they’ve been married before, responsible spouses should at least consider partnering with a Brandon family law attorney and taking out a prenup. That way, loved ones, mostly children, are protected if the unexpected happens.
In a nutshell, a prenuptial agreement delivers a strong dose of peace of mind at the beginning of a marriage, when peace of mind is often in short supply. Additionally, premarital agreements resolve monetary disputes in advance, so these arguments never have a chance to poison the relationship.
Making a Prenup
Premarital agreements usually cover financial and emotional topics. A good Brandon family law attorney takes full advantage of both areas.
Spousal support limits and yours, mine, & ours property ownership designations are usually at the core of a premarital agreement.
Florida’s spousal support laws have changed significantly in recent years. Nevertheless, many spouses would rather take control of this area than leave these decisions to judges. To better reflect the new laws, most prenups have stair step increases. The longer the marriage lasts, the less restrictive the alimony cap becomes.
Many people have children from first marriages or other prior relationships. When these individuals remarry, the children of prior relationships often lose all inheritance and succession rights. The provisions in a premarital agreement override these rules, allowing people to designate their own heirs and successors.
Breaking a Premarital Agreement
Even the strongest premarital agreement is not made on a stone tablet. Under the UMPA, challenging spouses can overturn parts of a premarital agreement in the following situations:
- Unconscionable Provision: An uneven division is not necessarily unconscionable. In some cases, courts have approved disproportionate divisions, such as 70-30, because of the other facts in the case and because both sides had independent lawyers.
- Undue Influence: Some spouses withhold important financial or other documents, so the other spouse must plan based on less than all the facts. The undue influence could also be extreme pressure to sign, such as presenting the agreement and uttering a “sign or else” ultimatum immediately before the organist begins “Here Comes the Bride”.
- Illegal Provision: Child support and many other financial provisions are illegal in premarital agreements. Inheritance provisions clearly inconsistent with the law may be illegal as well. If a spouse wants to leave property to a pet, that spouse needs a will, not a premarital agreement.
Most prenups include severability clauses. If a judge invalidates one part of one section, the entire remainder is still in force.
Work With a Dedicated Sarasota County Family Law Attorney
Prenups strengthen marriages. For a confidential consultation with an experienced family law attorney in Sarasota, contact Carman & Finegan, P.A. The sooner you reach out to us, the sooner we start working for you.