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Miami Prenuptial Agreement Lawyers

Miami Prenuptial Agreement Lawyers Helping Spouses Protect Individual Assets

There are many reasons a couple might consider a prenuptial agreement before marriage. While prenups are primarily concerned with addressing the ownership of assets among couples, you may find your relationship can also benefit from speaking with a prenup attorney.

At Miami Family Law Group, PLLC, our prenuptial agreement attorneys in Miami have over 30 years of experience settling family law matters involving divorce, child custody, alimony, and property division. We have seen firsthand how a prenup can help couples establish a firm division of property before marriage to establish their separate property in the event of a divorce.

What Is a Prenuptial Agreement?

A prenuptial agreement is a written contract that engaged couples can sign before getting married. These agreements establish how income, property, investments, and assets will be divided in the case of divorce. These contracts can also address other financial concerns when it comes to marriage, such as alimony payments and inheritances.

Prenups can be a useful tool when the assets in mind are of a large value or other complex assets are involved. But keep in mind, drawing up a legally binding prenuptial agreement requires the voluntary participation of both spouses, along with meeting all the legal requirements. A postnuptial agreement is another method of dividing up assets in a marriage, but it is done after the marriage has commenced.

Whether you have questions pertaining to the prenuptial agreement process or want to get started working on your prenup today, reach out to Miami Family Law Group, PLLC. Our attorneys are well-versed in both estate and family law, and we are available to address any concerns you may have about asset protection when heading into a marriage.

Make sure your assets are protected and speak with a prenuptial agreement attorney today. Call 305-520-7874.

Why Should We Consider an Attorney for a Prenuptial Agreement?

Couples often sign prenups for one or more reasons, including when:

  • One or both spouses hold or expect to inherit significant family assets.
  • One or both spouses were previously married or have children from a previous relationship.
  • One or both spouses own or have a controlling stake in a business.
  • One spouse earns significantly more than the other.
  • One or both spouses have or expect to incur significant debt.

Contact our prenup lawyer in Miami to schedule a strategy session if you are interested in preparing a prenuptial agreement.

How Does a Prenuptial Agreement Work in Florida?

During a divorce, the family court will attempt to divide marital property equitably between the separating spouses. For example, if you enter the marriage as a business owner, but your spouse has worked with you for 10 years, the court may find that your spouse has a stake in the business based on their contributions during your marriage. The court might determine that your spouse should receive a sum of money that represents an equitable percentage of ownership for helping your business grow and expand its influence.

If you want to maintain full ownership of your business in case of a divorce, a prenup can help you keep your business as separate property rather than joint property of the marriage.

For your prenup to be valid, you and your future spouse must discuss your respective assets in a transparent financial disclosure, voluntarily enter the agreement without duress or coercion, and provide fair terms for each party. Contact our attorneys for prenuptial agreements to schedule a strategy session so we can guide you along these steps.

What to Include in a Prenuptial Agreement in Florida

Your Florida prenup lawyer with Miami Family Law Group, PLLC will help you and your future spouse determine which items to include in a prenuptial agreement. While you cannot include child custody or child support terms in a prenup, you can decide whether to waive or limit alimony if you and your spouse later divorce.

You may also want to include terms for how to divide assets in non-divorce separation, how to distribute assets you wish for children from a prior marriage to inherit, and how to charge attorney fees if one spouse challenges the terms of the prenup during the divorce. A prenuptial agreement can prevent or limit expensive litigation during a divorce, and it can allow both parties more control over the distribution of assets in such a situation.

Benefits of Having a Premarital Agreement

  • Protecting Separate Property - A premarital agreement does not simply mean you are anticipating a divorce, but that you value your assets and are looking to protect your businesses, investments, and money that you have worked hard for. By taking the preemptive measure of signing a prenup, you can go into your marriage with confidence that your personal assets are protected as well as the assets of your spouse.
  • Clarifying Separate Property - A prenuptial agreement can give both parties clarity on each other's finances, as well as how things will be distributed in the event of a divorce. Having this clarity can help a couple make decisions throughout their marriage.
  • Avoid Litigation - Couples who sign a prenup can avoid potentially lengthy litigation processes that can stem from divorce. Divorce litigation is often emotionally and financially draining and is best to avoid if possible.
  • Protect Business Interests - Prenuptial agreements allow individuals whose finances are more complex (business owners, entrepreneurs, etc.) to safeguard against potential impacts to their business endeavors.
  • Defend Yourself Against Debts - Prenuptial agreements can protect each spouse in the event of divorce or separation from acquiring the other's debts.

It is important to note that these agreements do not only apply to wealthy individuals, but they can be useful tools for anyone getting married. Prenups offer terms tailored to your circumstances and can protect both you, your future spouse, and your family moving forward.

When Should You Consider a Prenuptial Agreement?

  • You have substantial assets - Premarital agreements can be a smart move for anyone with significant assets, such as business or property owners. A prenup can assure that those assets will stay in your possession and not become marital property.
  • You have a high income - If you have a high income or you are expecting to have a significant inheritance in the future, a prenuptial agreement can be beneficial to keep that money in your name.
  • You or your partner has debt - If either partner has significant debt, a prenuptial agreement can protect both parties from being responsible for the other spouse's financial obligations in the future.
  • Avoiding disputes - If you wish to avoid future disputes over property division and want to settle such matters prior to marriage, a prenuptial agreement can clarify those terms and minimize conflict.
  • Business interests - Business owners understand the importance of planning ahead. Arranging a prenuptial agreement prior to marriage can be useful for your business's future.

All in all, a Miami prenuptial agreement can provide you and your future spouse with assurance that your hard-earned assets are protected in the unfortunate case of separation.

However, before going ahead with a prenuptial agreement it is important for couples to have an open and honest discussion with each other as well as with legal counsel to determine if it is the right move for the marriage.

Understanding the Prenuptial Process

The prenuptial process can have slight variations, but typically follows the following path:

  1. Consulting with an attorney - After reaching the decision to draft a prenuptial agreement with your partner, the next step is to speak with a family lawyer who can guide you through the process, explain your legal requirements, and advise you on what should be included in the agreement based on your circumstances.
  2. Draft the agreement - In this step, you will outline key terms such as asset division and spousal support agreements, along with any other relevant elements such as inheritances or debts.
  3. Review the agreement - To reach a successful agreement, both parties should review the contract in detail and be willing to negotiate any changes that feel necessary. This can involve multiple rounds of negotiation until both parties are satisfied with the terms.
  4. Signing the agreement - Once a consensus has been reached on the prenuptial conditions, the document must be signed by both spouses in front of a public notary or other authorized officials.
  5. Filing the agreement - Finally, to ensure the agreement is legal, it must be filed with the appropriate court or government agency, which your attorney can walk you through.

Navigating a prenuptial agreement may be difficult depending on the circumstances. Working with an attorney who is experienced in both family and estate law is essential to making sure your interests are taken into account and ensuring that the final document is legally valid.

Negotiating a Prenuptial Agreement

The negotiating part of a prenuptial agreement can be a sensitive and challenging process, but it is necessary to make sure both parties feel secure in their decisions moving forward. We recommend you negotiate with the following in mind:

  • Transparency - Transparency is crucial when discussing your finances, personal and marital assets, and debts. With transparency, both parties can get an understanding of each other's financial situations and make informed decisions on the conditions of the agreement.
  • Identify priorities - Both partners should establish their priorities before discussing prenuptial terms. This allows both parties to have a better understanding of what they want from the agreement.
  • Separate legal advice - To protect the interests of both parties, it is important to seek advice from two different attorneys about the legal implications of a prenuptial agreement.
  • Be open to compromise - With a prenuptial agreement may come compromises, as assets might be offered as a way to reach an agreement.
  • Keep emotions in check - Allowing emotions to sway negotiations should be avoided and replaced with a more rational perspective, if possible.

Common Misconceptions About Prenuptial Agreements

Although the prenup has become a notoriously known legal maneuver, there are misconceptions about the uses of this agreement, including:

  • Prenups are only beneficial if you are wealthy - Prenuptial agreements have long been regarded as solely beneficial to the wealthy. However, many couples can benefit from having their finances sorted before heading into marriage. These agreements extend past monetary assets and can affect other properties, including family homes and heirlooms.
  • Prenuptial agreements are for people who believe they will get divorced - The assumption of a prenup is that a divorce is being anticipated. However, it is very rare for couples to assume divorce before marriage. A prenuptial agreement can be a source of security for those who understand that the future can be uncertain.
  • Prenups are not romantic - While discussing finances and property may not match up with the excitement of marriage, these agreements can provide a couple with clarity on the realities of marriage. In actuality, these legally binding documents can prevent future conflict, and they can be a comfort to both parties.
  • Prenups are not enforceable - Prenuptial agreements can be enforced in court as long as they are properly prepared and signed. To ensure the legality of the agreement, work with a qualified attorney.
  • Prenuptials are one-sided - A prenup is not meant for one party's benefit, but instead, it aims to protect both sides' rights through mutual approval. Creating a prenuptial agreement keeps both parties' rights and interests in mind.

By understanding these misconceptions, future spouses can make an informed decision about whether a premarital agreement is right for them.

How Can a Prenuptial Agreement Attorney Help You?

By working with a knowledgeable prenup attorney, couples can guarantee that their paperwork meets the legal criteria along with addressing their individual concerns.

A lawyer who has experience drafting and negotiating prenuptial agreements can provide customized advice based on each client's unique circumstances. This involves identifying any possible problems with solutions, drafting and reviewing the contract, and directing a negotiation that meets both parties' needs. In the case of negotiation, a lawyer can become essential to mediate the discussion and act as legal representation for one party.

Aside from advice, your lawyer can take charge of drafting the documents, officially filing the prenup, and ensuring it is legally valid according to Florida law both now and in the future.

Ultimately, working with a prenup lawyer can help you avoid disputes, safeguard everyone's interests, and ensure the process goes as smoothly and quickly as possible.

Alimony and Your Prenuptial Agreement

You and your spouse may agree to waive the right to seek alimony (also called maintenance or spousal support) if you divorce in the future. You might choose to limit alimony to a certain cap, or you may include stipulations for pursuing spousal support.

For example, if one spouse is unemployed at the time of the divorce filing, they might be able to request more spousal support than if both spouses are working when one spouse files for divorce. These terms could help the spouse who left work to be a stay-at-home parent reenter the workforce after the divorce.

Protecting an Inheritance for Children From a Previous Marriage With a Prenuptial Agreement Lawyer in Miami

If you have children from a previous marriage, it could be difficult to preserve an inheritance for them if you pass away without proper estate planning in place. It is likely your spouse would inherit the majority of your property before your children.

A prenuptial agreement can help you preserve your children's inheritances. For other questions about prenuptial agreements, speak with a prenuptial agreement lawyer at our offices in Miami, FL.

Prenuptial Agreement FAQs

Q

How Is a Prenuptial Agreement Enforced?

Answer: The terms of a prenuptial agreement will typically be followed during a couple's divorce. Decisions made about issues such as property division and spousal support will be enforced when creating a divorce settlement. However, for a prenup to be enforceable, it must meet several criteria:

  • Both parties must have voluntarily agreed to the terms of the agreement without coercion, duress, or fraud.
  • Both parties must have completely disclosed all of their assets, debts, and financial obligations prior to signing the agreement. In some cases, one or both spouses may sign a waiver of their right to receive a financial disclosure from the other party.
  • The agreement must have been written down in a valid legal document, and both parties must have signed the prenup before getting married.
  • The terms must be fair, and the agreement cannot be unconscionable or highly unfair to either party.
Q

How Much Time Is Needed to Create a Prenuptial Agreement?

Answer: The timeline for creating a prenup will usually depend on a couple's financial situation, the complexity of their assets, and the willingness of the parties to negotiate. Ideally, couples should start the process well before their wedding date to ensure enough time for thorough discussion, drafting, and review. If your prenuptial agreement is straightforward, it may take as little as two to three weeks to draft. However, more time may be needed to address complex financial issues. Enough time should also be provided for both parties to review the agreement and consult with an attorney before signing it. If a person is not given enough time to consider an agreement, such as when they are presented with a prenup on the day of their wedding and told that the ceremony cannot go forward until they sign, this may be considered coercion, and the agreement may not be enforced in a future divorce.

Q

Can a Prenuptial Agreement Be Updated or Revoked?

Answer: Yes, a prenup can be modified at any time with the consent of both parties, or it may be revoked if both spouses agree to do so. The changes must be set down in writing, and both spouses must sign the updated agreement. Modifications must comply with the same legal standards as the original agreement. Legal counsel from an experienced attorney can be crucial when modifying or revoking a prenup to ensure that any changes that are made will be enforceable. A couple may also need to consider how changes in their financial situation may need to be addressed, and both parties should have a full understanding of their mutual finances and the separate property owned by either party. In some cases, it may be beneficial to create a postnuptial agreement to address new financial circumstances that have arisen during the marriage.

Q

Are There Any Drawbacks to Prenuptial Agreements?

Answer: While prenuptial agreements offer many benefits, there are potential drawbacks to consider:

  • Discussions about prenups can be uncomfortable, and they may cause tension between partners.
  • Some people may feel that a prenup indicates a lack of trust or commitment from their partner, and they may feel that the requirement to sign a legal agreement would not be a good start for their marriage.
  • If it is not drafted correctly, a prenup can be challenged and invalidated in court. It is crucial to work with an attorney when creating a prenuptial agreement, negotiating terms, and making sure it is valid and enforceable.
  • The agreement may need to be updated to reflect significant financial changes during the marriage. Determining when to revisit and modify a prenup is not always easy, and discussions of the issues addressed in an agreement may lead to conflict or distrust.
Q

Do Prenuptial Agreements Hold up in Court?

Answer: Prenuptial agreements will usually be enforced during a divorce if they meet all legal requirements. However, they can be challenged and potentially invalidated if:

  • One party was forced into signing the agreement. This may include threats or coercion, such as insisting that a person sign the document presented without being given the opportunity to review its terms and consult with an attorney.
  • One or both spouses were dishonest regarding the full disclosure of assets and debts. A full disclosure of assets, income, and liabilities is essential, since it can inform a person's decisions about how financial matters may be handled during their marriage or in a potential divorce. Failing to disclose certain information or providing incorrect or falsified information may invalidate a prenup.
  • The terms are deemed to be grossly unfair or unconscionable. If the agreement would give the vast majority of a couple's assets to one spouse in a divorce, leaving the other spouse without the means to support themselves, a court may decide that the terms of the agreement are unfair and should not be enforced.

Consult With a Miami Prenuptial Agreement Attorney

Prenuptial agreements can be a valuable tool for couples who want to protect their assets and ensure that their interests are protected in the event of a divorce. Negotiating and drafting a prenuptial agreement, on the other hand, can get complicated, so it is important to work with an experienced Miami prenuptial agreement attorney who can guide you through the process.

If you are considering a prenuptial agreement, we urge you to consult with an attorney as soon as possible to ensure that you have enough time to negotiate and draft the agreement before your wedding day. Although postnuptial agreements are another valid option, they may not grant the same protections as a prenuptial agreement.

Contact a Miami, Florida prenuptial agreement lawyer today to learn more about how you can protect your assets and plan for the future.

To speak with a Miami Family Law Group, PLLC prenup attorney today, contact us at 305-520-7874.

Contact Miami Family Law Group, PLLC

Our attorneys are ready to help address your legal needs. Schedule an appointment by calling 305-520-7874 or contacting us online.

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