Congratulations on your upcoming marriage! We know that whether you are planning a beach wedding in Belleair Bluffs or a traditional wedding in a church in Dunedin, you have a lot to do. One thing you may not be thinking about, but should start discussing, is a prenuptial agreement in Florida.
What a Prenup Is Not
Television and movies give prenups a bad reputation. A few things that fiction gets wrong about a prenuptial agreement include:
- Myth: Only the very rich need a prenuptial agreement.
Truth: In reality, a prenup is something that you should consider even if you do not have a large net worth.
- Myth: You can present it to your future spouse the day before the wedding.
Truth: In many instances if a prenuptial agreement is signed within even a few days of the wedding, it may be declared invalid. That is because a judge may decide it was signed under duress and void it.
- Myth: A prenuptial agreement only benefits one of the two in the marriage.
Truth: When your prenuptial agreement is properly established with an estate planning attorney, it will protect both parties as well as any children from previous marriages.
- Myth: A prenuptial agreement is necessary if you do not trust your intended.
Truth: If you do not trust your soon-to-be spouse, you likely should reconsider the marriage.
Things to Consider Including in Your Prenuptial Agreement in Florida
It is impossible to cover every detail that one may want in a prenuptial agreement in Florida without knowing your situation. However, here are some of the most common things we discuss with our clients as estate planning attorneys.
- Retention of the homestead property: If you own a home prior to getting married, you may want to have them waive their spousal rights to that property in the event of a divorce.
- Future inheritance protection: This often protects both individual’s existing children’s inheritance. It is also helpful if there is a business or other significant investment owned prior to marriage.
- Waiving or establishing set alimony prior to marriage: Spousal support is awarded in cases where the spouse will not be able to continue with their current lifestyle after a divorce. However, you can agree on alimony terms prior to marriage. That can include waiving it, limiting it to a certain amount and number of years, or other stipulations.
Wagstaff & Pitelis Provides Comprehensive Estate Planning Services
If you are getting married and need a prenuptial agreement in Florida, we can help. If you are already married and realize you should have a post-nuptial agreement, or need to update your will and estate plan, call the team at Wagstaff & Pitelis today. As a locally based estate planning attorney, we are here to help you throughout your marriage. Reach us at (727) 584-8182 or fill out our contact form today.