PRE & POST NUPTIAL AGREEMENTS

A “prenuptial agreement” is an agreement between two people that deals with the financial consequences of their marriage ending in advance of the marriage. A postnuptial agreement is a written agreement executed after a couple gets married or have entered a civil union to settle the couple's affairs and assets in the event of a separation or divorce.  Both must be notarized and are subject of statute of frauds.

All marrying couples have a “prenuptial agreement” – it is known as “divorce law.” However, a lot of people are unhappy with the way divorce law works, and prefer to take control of their lives, rather than leave it in the hands of the courts.  A Prenuptial Agreement must be fair and entered into after full and complete disclosure of all financial matters of both parties, otherwise, it can be set aside in a divorce proceedings.  The Jordan Law Group has drafted countless “prenups” for their clients over the years and can counsel you in preparing an agreement that is fair and will stand up in court. 

Here are seven common reasons for considering a Pre or Postnuptial Agreement:

1. Protection Of Your Wealth:  If you are much wealthier than your partner, a prenuptial agreement can ensure that your partner is marrying you for who you are, and not for your money.

2. Limit Possible Alimony: A prenuptial agreement can be used to limit the amount of alimony that is payable should your marriage fail in the future.

3. Protection Of Your Family:  If you are remarrying and have a children from a previous marriage, support obligations, or own a home or other significant assets a Pre-Nuptial Agreement can ensure that your assets are distributed to your family and not subject to distribution to your spouses family when you pass away. A Pre-Nuptial Agreement together with a Living Trust can ensure that when you pass away, your assets are distributed according to your wishes, and that neither your first family, nor your new family are cut off.

4. Avoidance Of Debt.  If you are marrying someone with a lot of debt and do not want to be responsible for these debts if your marriage ends, a Prenuptial Agreement can define what happens to that debt should you get divorced and who is responsible for paying off that debt..

5. You Own Part Of A Business. Without a prenuptial agreement, your spouse could end up owning a share of your business. Your business partners may not want this to happen. A “prenup” can ensure that your spouse does not become an unwanted partner in your business.

6. Protection Of Your Estate: A Prenuptial Agreement will help protect your estate planning and quite possible protect against payment of an elective share from assets you had before your marriage.  For instance, a Prenuptial Agreement can ensure that a specific heirloom remains in your family that would otherwise be distributed to another.

7. You Are Much Poorer Than Your Partner. Just as a Prenuptial Agreement can be used to protect a spouse who is well off, a it is also effective to protect the partner who is weaker financially and helps ensure that the poorer partner is given an opportunity to become self-supporting if the marriage ends through specific provisions for bridge-the gap, durational, rehabilitative or temporary alimony.

Do not hesitate to contact The Jordan Law Group for your consultation before you tie the knot, otherwise it may be too late and you will be subject to the equitable distribution laws of the State of Florida should your marriage end.