A prenuptial agreement, sometimes called an antenuptial or a premarital agreement, is a contract between people who intend to marry. The agreement controls what will happen to their assets in the event of a divorce. Historically, courts viewed prenuptial agreements with disfavor. Today, most jurisdictions permit prenuptial agreements, but construe them strictly. It is therefore very important for a prenuptial agreement to be prepared by a highly qualified lawyer who specializes in marital law.
Prenuptial agreements are perhaps most common in situations where one person has significant assets or income, or owns a business, and is marrying a person who has significantly fewer assets. An agreement as to a future property settlement or spousal support (alimony) payments can provide the wealthier spouse with financial protection, and at the same time make financial arrangements for the other spouse.
Premarital agreements can also be very beneficial in second marriages, particularly when the couple is older and both partners are financially established. Premarital agreements are also used where one or both of the future spouses have children from a prior relationship whom they wish to protect financially.
The agreement can also cover assets that have not yet come into the marital estate and can clarify how property will be divided in the event of divorce.
Florida is one of a number of states with laws which address premarital agreements. Just recently, in 2007, Florida enacted the Uniform Premarital Agreement Act, which addresses the validity and enforcement of such agreements.
One thing premarital agreements cannot do is to determine in advance a parenting plan for the children or the appropriate child support obligation. Those issues will be addressed if the marriage does not succeed. The reason that these matters cannot be planned before the parties' marriage is because the needs of the children cannot be foreseen and therefore the appropriate parenting plan cannot be determined in advance. With regard to a child support obligation, this will be determined based upon the parties' respective incomes at the time that the parties determine that they no longer wish or are able to continue their marital relationship. A child support obligation is modifiable in the event the financial situation of one or both of the parties changes significantly, permanently, and unexpectedly.
