How To Create a Valid Prenuptial Agreement
Prenuptial agreements are valuable tools for protecting you and your fiancé’s property interests prior to a marriage. A prenuptial agreement dictates prior to the marriage what the circumstances will be if the couple ever gets divorced and can also help solidify inheritance rights for blended families. It is important that you and your soon to be spouse follow all of the legal requirements for creating a valid prenuptial agreement for your estate. Failure to do so can result in messy complications during a divorce or in probate. For guidance in prenuptial agreements, call or contact the Law Offices of David L. Hirschberg to schedule a free consultation of your case.
Full Disclosure of Assets
The first step in ensuring that your prenuptial agreement is valid is the full disclosure of assets in the drafting process. Hiding or concealing assets is grounds for rendering a prenuptial agreement invalid by the Florida court. Failure to fully disclose assets can also lead to civil and possibly criminal charges, and in a divorce the judge may award your spouse a larger portion of the marital estate as penalty.
Be Fair and Reasonable
A significant aspect of drafting a valid prenuptial agreement is ensuring that all terms in the agreement are reasonable to each party. It is important to understand the circumstances under which each party is entering into the marriage. For example, is this a party’s first marriage or have they been married before? Does a party have children from a previous marriage? Is one party entering into the marriage with significantly more assets? Not all marriages are the same, and a prenuptial agreement should be tailored to the individuals entering into the Agreement.
One final aspect of drafting a valid prenuptial agreement is due diligence. This type of agreement must be entered into willingly by both parties, which means that both sides need the proper time to review the terms and agree to the contract. Each side has the right to have legal counsel review the prenuptial agreement and suggest any revisions or additional terms prior to signing. There can be no duress due to time pressures or threats to not go forward with the wedding unless the document is signed as is. The prenuptial agreement must also be made in writing and signed by both parties in order to be valid. Each spouse’s attorneys should retain a copy of the agreement for their records.
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If you follow the requirements of drafting a valid prenuptial agreement, you and your loved one can utilize this document to protect your interests and enter into a marriage with security and knowledge of what to expect in the circumstances of divorce or death. To learn more, call or contact the Boca Raton prenuptial & postnuptial agreement attorneys at the Law Offices of David L. Hirschberg today to schedule a free consultation of your case.