A Premarital Agreement, also sometimes known as a Prenuptial Agreement, is an agreement or contract entered into by a couple who intend to marry. The purpose of the agreement is to set forth the couple’s intentions regarding certain rights after the parties are married. In particular, the agreement addresses issues in the event the couple seeks to divorce or if one of the parties dies.
A frequently asked question is whether these types of agreements are enforceable in Florida. The answer is a clear “yes” so long as the agreement is consistent with Florida’s “Uniform Premarital Agreement Act” set forth at Section 61.079, Fla. Stat. Section 61.079 provides that to be enforceable, the agreement must be in writing and signed by both parties.
The statute sets forth the matters to which the parties may contract in the Premarital Agreement. Specifically, Section 61.079(4)(a), Fla. Stat. provides the following as matters to be addressed:
1. The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located;
2. The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;
3. The disposition of property upon separation, marital dissolution, death, or the occurrence or nonoccurrence of any other event;
4. The establishment, modification, waiver, or elimination of spousal support;
5. The making of a will, trust, or other arrangement to carry out the provisions of the agreement;
6. The ownership rights in and disposition of the death benefit from a life insurance policy;
7. The choice of law governing the construction of the agreement; and
8. Any other matter, including their personal rights and obligations, not in violation of either the public policy of this state or a law imposing a criminal penalty.
Entering into a Premarital Agreement presents challenging legal issues which should be addressed by a licensed attorney. It is not advisable to enter into a Premarital Agreement without the advice of experienced legal counsel.