Many Floridians are drawn to the idea of a prenuptial agreement. These individuals rightly view these agreements as a sort of marital contract that can spell out financial obligations during the course of marriage and, perhaps more importantly, how assets will be divided in the event of divorced. As beneficial as these agreements are, though, they are subject to some limitations. Knowing the restrictions placed on these agreements is crucial because including them in a prenuptial agreement may lead to the entire contract being deemed invalid.
Generally speaking, the limitations placed on a prenuptial agreement deal with what can and cannot be included in the agreement’s terms. So what can be included in the agreement? Many people choose to distinguish specifically which pieces of property will be considered separate and which will be considered marital. This essentially sets the stage for which assets will be subject to division in the event of divorce. A prenuptial agreement can also contain language that protects a spouse form the other’s debts. Another common use of a prenuptial agreement is to spell out financial duties to be carried by each spouse, such as the management of credit cards accounts and household bills, and addressing how one spouse’s schooling will be paid for during the course of marriage.
There are some things that simply cannot be included in a prenuptial agreement, though. Child custody and child support matters, for example, are off the table. The same typically holds true for provisions whereby one spouse waives his or her right to seek alimony. Lastly, issues that are not financial in nature cannot be addressed in a prenuptial agreement.
Marriage can be exciting, but the mere thought of divorce can leave some stressed about their future in the event that their relationship doesn’t work out. By working with an attorney who is experienced in crafting prenuptial agreements, these individuals can obtain a custom-tailored agreement that meets their needs and sets them up for a marriage where divorce-related financial concerns are not an issue.