Prenuptial and Postnuptial Agreements

What is a prenuptial agreement?

A prenuptial agreement is a contract that a prospective husband and wife enter prior to the marriage. The prenuptial agreement will determine the division of assets and liabilities in the event of death or divorce and will outline the terms regarding whether there is alimony at the end of a marriage. A prenuptial agreement cannot address plans regarding child support or time-sharing. Those matters will be addressed at the time of the divorce, if necessary.

What is a postnuptial agreement?

A postnuptial agreement is an agreement that a husband and wife enter into after the marriage begins. Like prenuptial agreements, the postnuptial agreement establishes the guidelines for the remainder of the marriage if there’s a divorce.

A common misconception is that parties establish a postnuptial agreement in the event of an impending divorce. Often, postnuptial agreements are arranged within a long-term marriage when there’s about to be a new life event, such as one spouse starting a new business or purchasing a new piece of real property.

Just like prenuptial agreements, parties are unable to establish plans for child support in a postnuptial agreement.

How do I ensure that my prenuptial or postnuptial agreement is valid?

Everyone who is entering into a prenuptial or postnuptial agreement should hire a Family Law Attorney to review the terms. Since these agreements are legally binding, and are enforceable in a Florida Court of Law, you want to be sure that your needs are represented accurately within the agreement.

Both parties must enter into the agreement voluntarily – this means that the parties must enter into the agreement free from duress, coercion, undue influence, or fraud.

The parties must have a general and approximate knowledge of the other party’s financial situation, like their income, assets, and liabilities. This knowledge is often referred to as “financial disclosure.”

If you’re considering a prenuptial agreement in South Florida, Johnson Ritchey Family Law is here to help. Contact us today to schedule a consultation and learn more about your options.