Protect Your Separate Property with a Prenuptial Agreement Lawyer in Miami Florida
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 attorney in Miami has over 30 years of experience settling family law matters of divorce, child custody, alimony, and property division. We’ve seen firsthand how a prenup can help couples establish a firm division of property rights 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 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. Our attorneys are well-versed in both estate and family law and 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! Dial 305-916-4053.
Why Should We Consider an Attorney for 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 works with you for ten 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 attorney for prenuptial agreement 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 can’t 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've worked hard for. By taking the preemptive measure of signing a prenup, you can go into 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 the 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 don't only apply to wealthy individuals, but 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 businesses 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 to 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 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.
- Children are involved - Whether you and your future spouse have children together or there are children from a previous marriage, determining who will end up with custody can be comforting to both parties.
All in all, a Miami prenuptial agreement can provide you with your future spouse 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's the right move for the marriage.
Understanding The Prenuptial Process
The prenuptial process can have slight variations, but typically follows the following path:
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 legal requirements, and advise you on what should be included in the agreement based on your circumstances.
Draft the agreement - In this step, you will outline key terms such as asset divisions, spousal support, and child support agreements, along with any other relevant elements such as inheritance or debts.
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.
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.
Filing the agreement - Finally, to ensure the agreement is legal, it must be filed with the appropriate court of a government agency, which your attorney can walk you through.
Navigating a prenuptial agreement may be difficult depending on the circumstances. Working with an attorney experienced in both family and estate law is essential to making sure your interests are taken into account and 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's 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're 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 affect properties that can involve 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's very rare for couples to assume divorce before marriage, rather prenuptial agreements are a source of security for those who understand that the future can be uncertain.
- Prenups aren't 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 be a comfort to both parties.
- Prenups aren't 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 isn't 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 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 specializing in 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.
Aside from advice, your lawyer can take charge of drafting the documents, officially filing the prenup, and ensuring it's 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.
Consult with a Miami Prenuptial Attorney Today
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're 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 don't 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.
Speak with a Miami Family Law Group prenuptial attorney today, call 305-916-4053.
