Wednesday, March 13, 2013

Tampa Divorce Attorney - Premarital Agreements


PREMARITAL AGREEMENTS

A premarital agreement is a contract between prospective spouses made in contemplation of marriage  that becomes effective upon marriage.

In a premarital agreement, the prospective spouses may contract with respect to the following:

1.      The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located;
2.      The right to buy, sell, use, transfer, exchange, abandon, lease consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;
3.      The disposition of property upon separation, marital dissolution, death, or the occurrence or nonoccurrence of any other event;
4.      The creation, modification, waiver, or elimination of spousal support, (alimony);
5.      The making of a will, trust, or other arrangement to carry out the terms of the parties’ agreement;
6.      The ownership rights in and disposition of the death benefit from a life insurance policy.

However, the right of a child to receive support may not be adversely affected by a premarital agreement.

A premarital agreement is not enforceable in a divorce case if the party against whom enforcement is sought proves that:

1.      The party did not execute the premarital agreement voluntarily;
2.      The premarital agreement was the product of fraud, duress, coercion, or overreaching;
3.      The premarital agreement was unconscionable when it was executed and, before execution of the agreement, that party:

a.       Was not provided a fair and reasonable disclosure of the property or financial obligations of the other party;
b.      Did not voluntarily and expressly waive, in writing, any right to disclosure of the property or financial obligations of the other party beyond the disclosure provided;
c.       Did not have, or reasonably could not have had, an adequate knowledge of the property or financial obligations of the other party.

To obtain additional information regarding Premarital Agreements in Florida, contact experienced Family and Divorce Attorney Nilo J. Sanchez Jr.