A prenuptial agreement serves to protect your assets in the event that your marriage is dissolved. These agreements are especially important when one spouse has more assets than the other.
Florida has enacted the Uniform Premarital Agreement Act (UPAA) to govern prenuptial agreements. Under the Act, a prenuptial agreement is required to be in writing and voluntary. Oral agreements and any signed under duress are considered not legally binding. Additionally, an agreement may not put an unreasonable burden on either party nor leave a party destitute.
During the marriage, all aspects outlined in a prenuptial agreement must be adhered. Otherwise, the agreement may be deemed invalid.
Furthermore, a prenuptial agreement may also protect a spouse in the event of death. If the deceased does not have a valid will, the Courts will use a prenuptial agreement, to consider the intentions of the deceased spouse.
Finally, a prenuptial agreement helps both parties consider the financial consequences of marriage, while protecting them if their marriage is dissolved.