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A Comprehensive Guide to Florida Prenuptial Agreements

 

When marriages in Florida come to an end, the division of assets typically follows the equitable distribution principle. However, couples seeking greater control over this process can opt for prenuptial agreements (aka, prenups, or premarital agreements), a powerful tool to outline their preferences regarding property division, alimony, and more. In this guide, we’ll explore the uses, limitations, and key considerations of prenuptial agreements in Florida.

Florida Prenuptial Agreement Uses:

In the realm of prenuptial agreements, Florida adheres to the Uniform Premarital Agreement Act, ensuring consistency across the state. Prenuptial agreements are invaluable for individuals entering marriage with specific assets they wish to protect from equal division during divorce. These assets may include business ownership, inheritances, retirement plans, pensions, and life insurance proceeds.

Prenuptial agreements, typically costing between $2,500 and $10,000 (but starting at just $529 at JUSTLAW), can also safeguard the financial interests of children from previous marriages. Moreover, they provide a platform to establish alimony terms and address debt division. For comprehensive assistance, engaging a trusted financial advisor is recommended to tailor the prenup to individual needs.

What Florida Prenuptial Agreements Can Achieve:

By securing mutual agreement on asset distribution beforehand, prenuptial agreements can potentially save couples from costly litigation during divorce. However, it’s essential to acknowledge that these agreements might face challenges in court. Certain grounds, if proven, may lead a judge to set aside or modify provisions.

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Get complete peace of mind for your marriage with a FL Premarital Agreement from JUSTLAW

Modifications become necessary if significant financial changes occur during the marriage, such as one partner’s increased income or a job loss. Careful drafting is crucial for protecting assets acquired after marriage, ensuring the prenuptial agreement remains effective.

What Florida Prenuptial Agreements Can’t Address:

While prenuptial agreements are versatile, they cannot dictate child custody arrangements or determine child support in advance. Such matters are reserved for judicial decisions based on the child’s best interests.

Coercion, fraud, or the failure to disclose assets can render a prenuptial agreement void or voidable. Additionally, if a judge deems an agreement excessively unfair to one party, it may be set aside. Prenuptial agreements are not effective if the marriage is annulled or never takes place.

The Bottom Line:

Florida law empowers couples to proactively shape the outcome of asset division through prenuptial agreements. Negotiating these agreements well in advance of the ceremony is crucial to avoid potential challenges. Surprising a partner with a last-minute agreement can lead to resentment and possible invalidation by a judge. Seeking the guidance of an experienced financial advisor can ensure a well-crafted prenup that aligns with individual needs and preferences.

Tips on Preparing for Marriage:

If you’re planning to marry in Florida and wish to address potential asset division concerns, consulting with a financial advisor is a wise step. SmartAsset’s free tool connects you with vetted financial advisors in your area, allowing you to make informed decisions about your financial future. Before saying “I do,” consider these seven essential money questions and explore why a prenuptial agreement might be a prudent choice for your unique situation.

Conclusion

Premarital Agreements, or prenups, are no longer just a luxury of the rich. Almost anyone can (and should) afford to get a premarital agreement thanks to JUSTLAW’s efficient, tech-driven processes and low, low pricing. For just $529, you can buy complete peace of mind for your marriage. So Florida couples facing the prospect of divorce or seeking to safeguard their financial interests have a valuable tool at their disposal – the prenuptial agreement. By adhering to the Uniform Premarital Agreement Act, these agreements offer a proactive approach to defining asset distribution, alimony, and debt division. Engaging a financial advisor for tailored guidance is crucial. Remember, careful negotiation, early planning, and transparency are key to ensuring the effectiveness of prenuptial agreements, empowering couples to shape their financial futures with confidence.

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NOW IS THE TIME TO POP THE PRENUP QUESTION

By: Anastasia Greer, Legal Intern at JUSTLAW

While November through March is peak proposal season, there is no better time to begin prenuptial planning than in the months to follow. On its surface, it may not be the most romantic idea to think about, but it can help you even for a second in the long run. 

The real truth is that our world’s divorce rates are hard to overlook. Recent stats show that the current divorce rate in the U.S. is 42.6%. As for the number of marriages, 41%-50% of first-time marriages end in divorce, and this number jumps to 60% for second-time marriages. Think about it this way: smart, proactive couples (and families) plan for the worst case scenarios as part of their everyday lives, but these events (earthquakes, fire, pandemic), are the sort of catastrophic events that have a near 5% or less chance of happening. Given the aforementioned odds of getting divorced, it is in you and your future-spouse’s best interests to at least consider getting a prenup.

BEFORE MARRIAGE. “PRE”-NUPTIAL

By its own definition, a “prenuptial agreement” is a contract that is agreed to and is signed before marriage. Our team at JUSTLAW ideally recommends one to three months before marriage to make prenuptial arrangements. By and large, there is no hard timeline by law in most states in which you should sign your prenuptial agreement – only at a “reasonably early point prior to your wedding.” 

Besides timing, you should also be aware of the specific terms for validity that may be required by your state. For example, CA requires at least 7 days to pass after being presented with the prenup until you can sign it. But in states like Texas, there is no minimum number of days required for a prenup to be signed. If you and your spouse put things off to days before the wedding, there may be unforeseen legal implications if you were to try to enforce the agreement in the future. In the worst case, the prenup could be thrown out entirely. Part of this issue may be that a court whether the agreement was made under pressure or coercion in the immediate days leading to your marriage. On the flip side, there may be issues that the agreement was made too far in advance of your marriage such that neither you or your future spouse remember what you agreed to or that circumstances have changed so significantly the prenup is materially affected. 

AFTER MARRIAGE.“POST”-NUPTIAL

Brides.com recommends “at least 30 days to pass” before your wedding date to sign your prenup. But, what happens if you and your spouse put the process off altogether and get married without a prenup? Postnups are exactly like they sound and can allow a couple to have protections in the event of divorce, but are less widely accepted state to state. This is partially because they are less widely accepted in the U.S. than prenuptial agreements – and therefore, they are far less likely to be enforced in a court of law. Oftentimes, when married partners enter into a contract, it is presumed that the disadvantaged party was unduly influenced in some way. Another disadvantage to post-nup agreements is more personal. Couples already have trepidations about how to approach these conversations (read more tips here), and there is a real fear that asking for a postnup might not make your partner feel you are committed to the marriage. Another issue with postnups may arise when the assets you started your marriage with have appreciated (or, in some cases depreciated) in value and, in doing so, may make it harder to delineate what property is “shared” or separate between the two of you. 

If you haven’t gotten down on one knee and proposed a prenup yet— there is no better time to do so than now. Finish your agreement and get on the same page as your partner before it’s too late! 

If you’re considering a prenuptial agreement as a new years resolution, contact our skilled JUSTLAW attorneys at 1-888-587-8187 and schedule a free consultation today! 

How to have the “prenup conversation”

HOW TO HAVE THE “PRENUP” CONVERSATION

By Anastasia Greer, Legal Intern at JUSTLAW

 

TO BEGIN. Planning a future together with the one you love can be an equally exciting and equally daunting experience. And making the smart choice to start your marriage with the strong foundation of a prenuptial agreement can only bring you closer with your partner. But, many clients come to us asking just exactly how they ought to approach conversations about prenups with the one they love, and this article is here to help. If you view this as a way to set clear expectations while protecting both you and your clients interests, the peace of mind a prenup brings is more romantic than you initially think.

 

wedding
Wedding Day

Our team at JUSTLAW has outlined some tips to facilitate a productive prenup conversation with your spouse below:

  • Choose the right time. When it comes to the important discussion about prenups with your partner, timing is everything. 


  • Let the benefits lead the way for the conversation. We at JUSTLAW recommend that you facilitate a positive conversation with all the benefits a prenuptial agreement can bring to you and your spouse. You can learn more about what prenuptial agreements can offer you and your partner on our blog called the Verdict. This can also help debunk any of the common myths, stereotypes, and misconceptions about prenuptial agreements. JUSTLAW has myth-busted some more common misconceptions below:

 

  • Just because you have a prenup in place does not mean that your relationship is unstable nor does it mean you and your partner will ever actually use it. Think of it as marriage insurance, and nothing more.

 

  • “Prenups are expensive.” This is not really true and exactly why JUSTLAW created universally accessible prenups in the first place. Starting at $529, you can get a prenup from our attorneys at JUSTLAW, but going the traditional route with in-person counsel can be a completely different price point and story. 

 

  • “Prenups are for the rich.” Again, this is not necessarily true. There are several clauses in prenups that can exist to benefit a “less-wealthy” spouse, and you can read more about them here. Among them are alimony clauses, lump-sum payment clauses, and non-disparagement clauses.

 

  • “Prenups get thrown out in court.” Again, not necessarily. This is why it is so important to hire someone with the legal expertise and knowledge of the laws in your state to bind you and your spouse to your prenuptial agreement. In fact, a Maryland court even recently upheld a $7 million dollar infidelity clause for a couple’s prenuptial agreement that was properly drafted and consented to. Read more about this here

  • Anticipate your partner’s desires and response. If you are the one who will be initiating the conversation about prenuptial agreements with your partner, it is important to think about what your partner might say and how they may respond when you do so. For example, let’s say you are the primary income earner between you and your spouse. They may be interested in maintaining financial support and security down the line, so you could open the conversation by mentioning that prenuptial agreements can include alimony clauses to make sure they are protected. Or, let’s say your parents ’s say your parents are giving you a sizable start-up wedding gift, like a house or 


  • Make it collaborative. Creating a prenup should not be a unilateral, selfish process. It can be easy for one partner to feel left out and may lead them to believe their input doesn’t matter to you if you don’t involve them as equals in the process. This is why here at JUSTLAW, we involve you both ~ together ~ during the initial intake and consultation process. If there’s something your partner doesn’t feel comfortable discussing on your own, our attorneys with JUSTLAW are here to help negotiate terms. The ultimate goals is to create a fair and equitable prenuptial agreement that is acceptable to you BOTH. 

prenuptial agreement clausesBe open to feedback. It is important to listen to your partner patiently, address their concerns, and take their suggestions into consideration with an open mind. After all, this is a two-way street and it may be a useful exercise to put yourselves in each other’s shoes to better understand where you are both coming from. If and when you both inevitably don’t see eye-to-eye on something, try not to shut your partner down. Remember, this is NOT an argument, but a discussion conducive to a mutually beneficial and relationship-strengthening result. When you hit a road-block, circle back to you and your partner’s areas of agreement, and try to find creative solutions that can benefit both of you. 


  • Use a third party neutral. Two different kinds of third-party neutrals may be helpful in these scenarios (depending on you and your spouse’s needs): (1) a licensed therapist or (2) a licensed attorney. When it comes to the legalese of prenuptial agreements, a lawyer will be able to tell your spouse the pros and cons of prenuptial agreements under the circumstances – making the job even easier for you. For example, if your spouse wants to be a stay-at-home parent, a lawyer would be able to explain all the ways a prenup would still benefit them, including alimony, any lump-sum clauses, and whether they could still live in your primary residence in the event of a divorce. When it comes to the more emotional side of prenuptial agreements, a therapist can help you and your spouse work through any stigmas or fears of prenuptial planning while making sure your relationship remains as strong as ever. They can help facilitate these tougher questions that you find are hard to ask under the circumstances: Why are they feeling this way? How can you support your partner to soften the feeling?

IN CONCLUSION. Throughout this entire process, it is important to remember that prenuptial agreements are not permanent. They can be changed by you and your spouse whenever, for whatever reason, if you both feel the prenup no longer reflects your desires and needs. While it might not be the most romantic topic to talk about, conversations like these are important to have and will serve both you and the one you love in the long run. 

You do not need to be a millionaire to stand to benefit from a prenuptial agreement with the one you love. If you’re considering a prenuptial agreement as a new years resolution, contact our skilled JUSTLAW attorneys at 1-888-587-8187 and schedule a free consultation today! 

COSTS OF CHEATING: $7M POSTNUP INFIDELITY CLAUSE UPHELD BY MARYLAND COURT

infidelity clause

Tristan Thompson is reported to have twice cheated on Khloe Kardashian. More recently, Maroon Five singer Adam Levine was alleged to have cheated on his wife days after his wife announced she was expecting another child.

 

“Infidelity” is not a friendly word in the press nor is it a friendly word for newlywed and soon-to-be-wed couples. While it is important to recognize that non-monogamous, open relationships are on the rise, a majority of Americans still report that their idea of a perfect relationship is completely monogamous.

 

To this point, a report from the American Psychological Association found that infidelity accounts for 20-40% of divorces across the country. While a so-called “cheating clause” may be the last thing on lovebirds’ minds before or after marriage, using these clauses in a pre or postnuptial agreement have more than just monetary benefits – they may even discourage infidelity in the first place.

 

What is an “Infidelity Clause”?

Infidelity clauses are couched among “lifestyle clauses” that Forbes Personal Finance has found are creeping up more and more frequently in prenuptial and postnuptial agreements. By and large, these clauses serve as “guidelines for behavior within the marriage” – and, as such, tend to address non-financial aspects of the marriage.

 

So while they govern behavior in the marriage rather than assets, you can attach hefty financial penalties for failure to comply with the terms. Just how hefty, you ask? It is reported that actress Jessica Biel has an “infidelity clause” in her prenuptial agreement with singer/star Justin Timberlake with a $500,000 reward for breach. Even Real Housewives Reality T.V. star Teresa Giudice had a “no cheating” mandate in her prenup with now ex-husband Joe. 

 

Enforceability and Loyd v. Niceta.

As for many “lifestyle clauses” that are not strictly financial in nature, enforceability of infidelity clauses across the United States has always been iffy. But a recent decision to uphold a $7 million infidelity clause by the Maryland Court of Appeals could change how courts view these in prenuptial and postnuptial agreements. 

 

The case is called Loyd v. Niceta and it went as follows: Husband and wife had been married since 2006. During their marriage, the couple was able to live well beyond their means because

(1) the husband made a good income and ;

(2) they had access to the husband’s substantial, inherited family wealth. Eight years later, the wife found out that her husband was having an affair. After a year of reconciling, the wife decided she would stay in the marriage subject to certain terms. This decision led to both spouses obtaining legal counsel to enter a postnuptial agreement.

 

In doing so, the husband’s priority was to keep the family together and regain his wife’s trust once again. His wife’s attorneys then drafted an initial agreement containing an “infidelity clause” that entitled her to a lump sum of $5 million if he ever cheated on her again. Per his attorney’s advice, the husband upped the ante of the payment to $7 million – an amount they both agreed upon to execute the postnup in September 2015. Some four years later, the wife found out that her husband had cheated on her again and filed for divorce seeking, among other relief, to enforce their postnup with a $7 million lump sum payment. 

 

This case ultimately hinged on the age-old concept of contract law “consideration.” The husband tried to argue that his wife had not given up anything of value in exchange for this $7 million promise to remain faithful – so their contract was void for lack of her consideration. However, both the lower court and the Maryland Court of Appeals found the wife DID give up sufficient consideration to enforce the agreement because she agreed to stay married to him and reconcile the relationship despite his previous affair. As Judge J. Frederick Sharer wrote for the court,  

 

“While such a[n] [infidelity] provision might create fear, it could as well create stability and peace in a marriage because the consequences of various actions in a marriage are explicitly spelled out . . . Mr. Lloyd alone was the trigger of the penalty.”

 

To sum it all up, the court found that, because the husband made his expensive $7 million bed, he must lie in it. A court decision like Loyd v. Niceta could mean more agreements like these are enforceable in a court of law – and finding a reputable attorney to help is key.

 

JUSTLAW offers a wealth of knowledge, state expertise, and services to create a fast, valid, and painless prenup! 

Please call us at 1-888-587-8187, explore our “Purpose”, and start the process here today.

Prenuptial Agreements: What does State Law Allow

Marriages, engagements, divorces and just about everything you can imagine that has to do with a family or a couple is governed by individual state laws. That is to say, family law is state law. However, while state law attempts to strive for fairness and equitable distribution, the law may not be the best for your situation. Prenuptial agreements allow for engaged couples to choose their own destiny.

Here are some common areas that are handled by state law and how a prenuptial agreement can avoid the state law from taking effect:

  1. Assets

When a couple divorces, much effort is spent dividing up the assets that both spouses accumulated during the marriage, otherwise known as marital property. States take two different approaches as to how marital property is divided up. One is referred to as a community property jurisdiction and the other is referred to as an equitable distribution jurisdiction.

Community property jurisdictions are only recognized in Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. Such states divide marital property evenly, using a 50/50 split. In the more common method of equitable distribution, judges divide up the property in an equitable or fair manner depending on the individual circumstances of the divorcing couple. Both methods allow for separate property, property that spouses owned before the marriage, to stay with that spouse, post-divorce.

In most cases if not all, divorced couples fight and fight over how their assets should be divided. Regardless, state law controls and it ultimately leaves either one of the divorcees or both divorcees upset. That is exactly why prenuptial agreements are so important for a couple looking to marry. By adding a provision in the pre nup detailing how your assets shall be divided post-divorce, the couple has planned ahead for the worst case scenarios. Don’t let a judge decide how your assets will be divided, do it yourself.

  1. Debts

State laws handle debt similarly to assets. Spousal debt is either separate property that has essentially began to accumulate before the marriage or marital debt that has begun to build during the marriage.

Prenuptial agreements can include a provision that divides debts based on your preferences. This is especially important if your fiancé has a significant amount of debt, and you want to ensure you will not be responsible for some or any of it, post-divorce.

  1. Spousal support

It is very common for a married couple to include one spouse who works and another who stays home full time to care for their children. In many instances, when a couple of similar circumstances divorces, the stay-at-home spouse is entitled to spousal support from the working spouse. Factors that a judge will use to determine the amount of spousal support regularly include the stay-at-home spouse’s earning capacity at the time of the divorce, the length of the marriage, and the state’s divorce laws. Judges usually have the final say as to how spousal support is conducted, and their decisions may be to your dismay.

Once again, following the same theme as above, a prenuptial agreement can avoid a judge’s arbitrary decision on the award of spousal support. A pre nup can limit spousal support, post-divorce, based on your wishes.


If you read this and want absolutely nothing to do with state family law, click here and we can find an experienced lawyer to join you for a quick consultation and pre nup for a limited time offer of $569. Take advantage quick before this offer ends!

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