Florida Prenuptial Agreements

There is nothing romantic about presenting a prenuptial agreement to your future spouse. However, these documents are helpful tools for managing your assets as a married couple. It also lets you decide what happens if you divorce or if either party passes away. If you’re considering a prenuptial agreement or need help understanding one, contact a Florida family law attorney. They can help you understand your rights and draft a contract that protects your interests.

What Is a Prenuptial Agreement in Florida?

Florida prenuptial agreements, also called premarital agreements, are binding contracts entered into by couples before marriage. This legal document takes effect upon their marriage. It allows couples to determine in advance how to handle their assets, debts, and financial matters. This includes what happens during marriage, in the event of a divorce, or upon the death of one of them.

Many states have adopted the Uniform Premarital Agreement Act (UPAA). This law provides standardized rules for creating and enforcing prenuptial agreements. Florida is one of the jurisdictions that adopted UPAA in 2007. The state then codified this Act in the Florida Statutes.

What Can You Include in a Florida Prenup?

When drafting a prenuptial agreement, Florida law allows couples to include whatever they want. Under the Florida Statutes, you can make agreements about:

• Each person’s rights and liabilities to their assets, regardless of when or where they obtained them
• Who has the authority to buy, sell, transfer, mortgage, or handle financial transactions involving assets
• Division of property after separation, death, or other specified events
• Terms for establishing, modifying, waiving, or eliminating spousal support, which became particularly important after Florida‘s 2023 alimony reform bill
• Coordinate wills, trusts, and related arrangements to implement the terms of the agreement
• Who owns life insurance policies, receives death benefits, and how retirement plans will be allocated
• Which state’s laws will apply when interpreting the agreement

You can also address various issues affecting your relationship, provided they don’t violate Florida public policy or criminal laws. Child custody and child support rights cannot be negatively impacted by a prenuptial agreement.

How Florida’s 2023 Alimony Reform Affects Prenups

The Florida alimony reform bill took effect on July 1, 2023. It eliminated permanent alimony and established time limits on spousal support. It introduced durational alimony caps, depending on the length of the marriage:

• Short-term marriage (lasted less than 10 years): Alimony duration of up to 50% of the length of the marriage
• Moderate-term marriage (lasted 10 to 20 years): Alimony duration of up to 60% of the marriage length
• Long-term marriage (lasted more than 20 years): Alimony duration of up to 75% of the marriage

If you were married for eight years, the court may order the other spouse to pay alimony for up to four years. If you were married for 15 years, alimony could last for up to nine years.

The time limits on spousal support provide a more established framework for addressing alimony in your prenuptial agreement. You can also waive spousal support entirely or set your own terms that are different from the guidelines set by the state.

What Makes a Premarital Agreement Unenforceable in Florida

Florida law provides certain grounds that will make a premarital agreement unenforceable. These include:

• If you did not voluntarily execute the agreement
• The agreement resulted from coercion, duress, fraud, or overreaching
• The agreement is unconscionable or unfair

Courts can make premarital agreements unenforceable if they are extremely unfair at the time of signing. You are required to prove the following:

• You were not provided fair disclosure of your partner’s assets and financial obligations
• You did not sign a written waiver that gives up your disclosure rights
• You could not reasonably obtain information about your partner’s financial obligations

All of these financial disclosure conditions should be present.

Courts also consider the circumstances of each case. They may consider other factors, such as extreme financial disparity between the spouses. If you need guidance on reviewing whether the premarital agreement is unconscionable, contact a prenuptial agreement lawyer. They can help review the prenup agreement and determine whether it is enforceable or unenforceable on certain grounds.

When Should You Sign a Prenuptial Agreement?

Florida laws do not specify an exact timeframe for when you should have a prenuptial agreement. It’s recommended that you sign the agreement a least one month before the wedding, or preferably a few months before. This allows both parties enough time to review the agreement. They can disclose their finances, consult an attorney, negotiate terms, and sign the agreement voluntarily.

In most cases, courts scrutinize agreements signed too close to the wedding date. This may suggest insufficient time to review them, coercion, or duress.

Before signing a prenuptial agreement, take the time to consult with your own attorney. They can help review the terms of the agreement, revise them if necessary, and ensure that you’re signing voluntarily without pressure.

How Prenups Interact With Florida’s Property Division Laws

If you don’t have a prenuptial agreement, the state of Florida uses equitable distribution of property to divide property in case of separation or divorce. In this case, Florida courts divide things equally between spouses. Exceptions are possible if the court has good reason to deviate from the norm. This includes factors such as the spouse’s financial situation, the length of the marriage, and each spouse’s contributions to the marriage.

A prenuptial agreement overrides this division rule. Under the agreement, you can decide what remains separate property and what does not. For example, if you have real estate before you get married, your prenuptial agreement can specify that it remains yours alone, even if the value grows during marriage. Without this agreement, the court may consider this growth as marital property during divorce proceedings.

It is also important to know that Florida separates properties into two categories: marital and nonmarital. Marital property covers assets acquired during the marriage and gifts between spouses. Marital assets also cover the increase in value of separate property when effort or marital funds contributed to that growth.

Nonmarital property is property you owned before the marriage. An example of nonmarital property is an inheritance or a gift specifically given to you. It also includes income from separate property.

Modifying or Revoking a Prenuptial Agreement

You can modify or cancel an existing prenuptial agreement by signing a written agreement. Some common reasons couples modify a prenuptial agreement include major financial changes or the addition of children to the family. Before modifying your existing agreement, it is advisable for both spouses to consult with their own attorneys. They can advise you on whether the modifications make sense for your situation and ensure the changes are properly executed.

Seek Legal Advice With Your Prenuptial Agreement

Starting your marriage with a prenuptial agreement may feel uncomfortable, but it can provide peace of mind and reduce conflicts in the event of divorce. If you have legal questions about a prenup or need a legal professional to review one, contact a Florida family law attorney near you. An experienced family law attorney can help you draft an agreement that protects your interests while ensuring it meets Florida’s legal requirements.