Marriage is a beautiful union between two people who love and respect each other. However, even the happiest marriages can encounter unforeseen circumstances that may lead to separation or divorce.
To protect the interests of both parties in the event of a divorce, it is essential to create a marital agreement. In Florida, a marital agreement is also referred to as a prenuptial or postnuptial agreement.
A prenuptial agreement is created before marriage, and a postnuptial agreement is created after marriage. Regardless of when it is created, a marital agreement is a legally binding document that outlines how assets and liabilities will be divided in case of a divorce.
In Florida, marital agreements can cover a wide range of topics, including but not limited to:
1. Division of assets and liabilities
A marital agreement can outline how marital property, separate property, and debts will be divided in the event of a divorce. It can also specify how property acquired during the marriage will be classified.
A marital agreement can also determine whether one party will pay spousal support to the other in case of a divorce, and if so, how much and for how long.
A marital agreement can specify how inheritance received by either party during the marriage will be treated in the event of a divorce.
4. Business ownership
A marital agreement can outline how any business interests will be divided in case of a divorce.
Although a marital agreement cannot determine issues of child custody and child support, it can specify how financial matters related to children will be addressed in the event of a divorce.
Creating a marital agreement may seem daunting, but it is a smart step to take to protect yourself and your spouse in case of a divorce. It is recommended that both parties seek legal counsel to ensure that their rights and interests are properly protected.
It is important to note that a marital agreement can be challenged in court if it is deemed unfair or if it was not entered into voluntarily. Therefore, it is essential that both parties fully disclose their assets and liabilities and that they are given sufficient time to review and consider the agreement before signing.
In conclusion, a marital agreement is a legal document that can help protect the interests of both parties in the event of a divorce. If you are considering creating a marital agreement in Florida, it is recommended that you seek legal counsel to ensure that your rights are protected and that the agreement is legally binding.