Boynton Beach Prenuptial and Postnuptial Agreements A prenuptial agreement is a written contract drafted and entered into prior

to a marriage. Its content usually provides for the division of property and assets and for spousal support in the event of a divorce or the death of one of the marriage partners. A postnuptial agreement is a written contract drafted after a couple gets married. Postnuptial agreements are also designed to settle the couples affairs and distribute assets in the event of a divorce or a death. Postnuptial agreements can add another layer of protection by providing reaffirmation of the prenuptial agreement. The reality is that the promise of a lifelong marriage cannot be relied upon. In recent years the popularity of prenuptial and postnuptial agreements has grown. These agreements can be used to define the terms of a Florida marriage, set expectations regarding disposition of property/assets, and serve to protect not only the assets but the rights of the parties who agree to these documents. There are many complexities involved in drafting prenuptial and postnuptial agreement documents. If they are improperly drafted or fail to take into account the unique circumstances of each couple who commit to them, they may be rendered unenforceable. Marriage Statistics In the United States almost 50 percent of first marriages and nearly 70 percent of remarriages end in divorce. For Florida residents the picture is even bleaker. According to a national vital statistics report in October, 2008, the state of Florida had the highest number of divorces7,007. That amount is higher than the number of divorces in forty-three other states. Floridas population of people over age 65 is the highest in the United States, and the U.S. Census Bureau projects that this will continue to be the case long into the 21st century. As the states population ages, the possibility of becoming a widow or widower increases as does the chance of being an older Florida resident becoming involved in a shaky remarriage. Peace of Mind Prenuptial or postnuptial agreements can provide security, peace of mind, and predictability to the settlement of personal affairs following the end of a marriage or remarriage. Although love is still the most important ingredient for a marriage to succeed, money issues will inevitably play a huge part as well. Prenuptial and postnuptial agreements should be thought of as business arrangements or as an insurance policy. In either case, some of the emotion that is naturally involved in committing to a marriage is removed. It is not necessary to be Tiger Woods in order to need a prenuptial or postnuptial agreement. One who has managed to save $75,000 may be even more protective of his or her small savings than someone who has saved over a million dollars. All assets and family heirlooms are looked upon as valuable.

Consider Entering into a Prenuptial or Postnuptial Agreement if Any of the Following is True: y y y y y y y y y y You own a home. You have accumulated stocks or retirement funds such as 401Ks. You expect to be the beneficiary of an inheritance. One of you will be supporting the other through college. There are children from a previous marriage (as is often the case among those who remarry in the state of Florida). One of you has accumulated much more wealth than the other. You own your own business or you are involved in a business partnership. You anticipate the growth of your business. You are in pursuit of a degree, such as a medical degree, which may bring in a great amount of income. Your parents are growing elderly and will be in need of being supported or taken care of.

Florida Premarital Agreement Law Under the Florida Family Law Rules of Procedure, a premarital agreement is defined as an agreement between prospective spouses made in contemplation of marriage and it is to become effective upon marriage. Premarital agreements concern the disposition of property. The term property includes but is not limited to, an interest, present or future, legal or equitable, vested or contingent, in real or personal property, tangible or intangible, including income and earnings, both active and passive. A Florida premarital agreement must be in writing and must be signed by both parties entering into the agreement. Premarital agreements are enforceable without consideration other than the marriage itself. A premarital agreement becomes effective upon marriage of the parties who have entered into the agreement. A premarital agreement can be amended, abandoned, or revoked only by means of a written agreement signed by both spouses in the marriage. Under Florida Family Law Rules of Procedure a premarital agreement is rendered unenforceable if one of the parties did not enter into the agreement voluntarily, if the agreement was done under circumstances of duress, coercion, or fraud, of if the agreement is found to have been unconscionable. Prenuptial Agreements Are Considered to Have Been Unconscionable: y If before one of the parties entered into the agreement, the party was not provided a reasonable and fair disclosure of the assets, property or financial obligations of the other party.

If prior to entering into the agreement, one party did not voluntarily waive in writing any right to the disclosure of financial obligations, property, or assets of the other party beyond the disclosure provided. If one party entering into the agreement did not have or reasonably could not have had an adequate knowledge of the financial obligations, property or assets of the other party.

Considering a Florida Prenuptial or a Postnuptial Agreement? Contact the Law Offices of Brian M. MoskowitzFamily Law Attorneys Serving South Florida. Call us at (561) 369-4481 of fill out our online contact form. These articles are provided for informational purposes only and should not be considered legal advice. Professional legal counsel should be sought for specific advice relevant to your circumstances.