Understanding What Can Be in a Prenuptial Agreement
Too many people think of a prenuptial agreement as something they need only if they are very wealthy or do not entirely trust their future spouse. In reality, a prenup can protect each party. However, there are limits as to what can and cannot be included in one. Before you meet with your family law attorney, make sure you are clear on the limitations.
What Cannot Be in a Prenuptial Agreement in Florida
Although most states have many of the same guidelines, this is the list of what cannot be in a prenup in Florida.
- Any custody or child support limitations or specifics.
- Verbiage pertaining to behaviors, responsibilities or other obligations of either party.
- A clause that states that adultery is grounds for voiding the prenup.
- Anything that violates federal or state law.
Some other verbiage, especially that which waives the right to alimony may also be deemed illegal in some instances. Your family law attorney can help you understand if what you wish to include is allowed.
What Can and Should be Included
The goal of a prenuptial agreement is to protect each party’s assets. In order to do that, you need to think about both your situation and personal property now and what it may be in the future. Be sure to include the following:
- Specific verbiage regarding your property coming into the marriage. This can include residences, jewelry, vehicles, and any other items you want excluded from being considered marital property.
- An exclusion of your partner’s existing debt if they have any coming into the marriage. If you do divorce while they still have that debt, your marital assets could be used to pay it off without a prenup.
- Protection for your family business. If you and other family members jointly own a business, you need to ensure that you do not have to split your ownership stake in the event of a divorce.
- Where or how retirement plans, pension, and life insurance will be settled at the end of a marriage.
If you reside in more than one state, you may also need to specify which state’s laws may be applied to the prenuptial agreement.
Call Wagstaff & Pitelis for Your Prenuptial Agreement
A properly devised and executed prenuptial agreement benefits both parties. However, it also takes time to draw up. As soon as you have a wedding date, contact the Wagstaff & Pitelis team for your appointment at (727) 584-8182. We are conveniently located in Clearwater and can handle not only your prenuptial agreement, but also all other family law needs once you are married.