Prenuptial Agreements Aren’t Just for the Rich and Famous
Prenuptial agreements are not just for the rich and famous. They can protect people at all different income and wealth levels.
A prenuptial agreement can decrease the potential for a messy divorce by spelling out you and your spouse’s rights and responsibilities to assets brought into the marriage and assets acquired during the marriage.
A prenuptial agreement will deal with the economic matters in the event of a divorce. This includes whether or not a spouse will receive alimony. The prenuptial agreement will discuss the distribution of assets and liabilities acquired during the marriage as well as the treatment of each spouse’s assets and liabilities brought into the marriage. Often is prenuptial agreements, parties are waiving their rights that they would normally have in the event of divorce.
A prenuptial agreement should not address custody, time-sharing, parenting plan or parental responsibility. The public policy of the State of Florida allows the judge to have the final decision on matters concerning the best interest of children.
Both parties should have separate attorneys to avoid a conflict of interest. You may also want to consider having a court reporter and videographer present when you and your spouse sign the agreement in the event that the prenuptial agreement is challenged in the future.
A prenuptial agreement should not be easily overturned if properly executed. Unfortunately, parties often enter into prenuptial agreements improperly and the agreements are overturned during a divorce. Both parties must exchange proof of their income, assets and liabilities at the time the agreement is executed. These disclosures should be attached to the agreement.
There should be ample time to think about and reflect on the terms of the prenuptial agreement prior to execution of the agreement. Your prenuptial agreement should not be presented to your spouse in close proximity to your wedding. Ideally, prenuptial agreements should be presented and negotiated before invitations to the wedding are even mailed.
As with any legal document, it is a good idea to update your prenuptial agreement as needed. This may include the birth of a child, inheritance or career change. You do not want your prenuptial agreement to become outdated and be inappropriate under the changed circumstances of your life.
If you have any questions about alimony or any other issue related to a Tampa prenuptial agreement contact the Bowes Law Group by clicking here or call us at (813) 421-4422 to schedule a consultation.