Requirements for Valid Postnuptial Agreements in Florida

Nobody who marries plans to divorce, but sadly, it happens all the time. Not surprisingly, more and more couples are choosing to enter into pre- and postnuptial agreements. These agreements historically have been viewed as the purview of the rich and famous, like Bill and Melinda Gates. However, they are a smart way for couples across the income spectrum to protect their assets and ensure their wishes are executed by the courts in the event of a divorce.

What is a Postnuptial Agreement?

A postnuptial agreement is very similar to a prenuptial agreement except that in the case of the former, the couple is already married. It is a legal document that details how the couples wishes to divide their assets in the event that they divorce in the future. A postnuptial agreement can include how a couple wants to divide their savings and investments, who keeps the home, alimony arrangements, division of debts, and even who keeps the family dog. It can cover most aspects needed to separate the couple’s life into the lives of two single individuals.  As such, it protects both spouses and can save on costly divorce and litigation expenses since it covers many of the most contentious facets of a divorce.

Requirements for a Valid Postnuptial Agreement

If you are considering developing a postnuptial agreement, it will need to meet certain requirements to be upheld in the Florida courts. These include:

• Both spouses must freely and willingly enter into the agreement. If either party is coerced into signing the agreement, it is invalid.

• The agreement must be properly executed. This means it must be in writing. Oral postnuptial agreements are not valid. Additionally, the agreement must be signed by two witnesses.

• Both spouses must make a complete and truthful financial disclosure. This includes all sources of income, assets, property, and debts. If the couple divorces and a spouse can prove that the other spouse withheld any financial information, then the agreement will not be upheld.

• The agreement must be fair. If one spouse receives the bulk of the assets and leaves the other in a financially precarious situation, the courts may not uphold the agreement.

• Each spouse must give the other consideration in the agreement. Consideration is a legal term that means that each spouse gives the other something in exchange for the agreement. In a prenuptial agreement, the marriage is the consideration. It will be important to follow the advice of an experienced family law attorney to determine the consideration for your postnuptial agreement.

Drafting a postnuptial agreement can be a difficult topic to broach with a spouse. However, it is better to address these issues while you are in love and before emotions are elevated.  If you are contemplating a postnuptial agreement, contact Troy Legal. We have helped hundreds of couples draft their postnuptial agreements and always do so with compassionate approach.

Troy Legal, P.A. was founded in 2009 and serves clients throughout South Florida. Troy Legal, P.A., specializes in Marital and Family Law, providing reputable legal services for prenuptial and co-habitation agreements, paternity cases, adoption matters, alimony and child support, time sharing and parenting plans, drafting of qualified domestic relations orders (qdros), mediation services, equitable distributions, collaborative law, post-judgement modification and enforcement, domestic violence cases, and dissolution of marriage or divorce.  Troy Legal, PA. .is dedicated to serving clients through compassionate and aggressive representation, while upholding the highest degree of ethical standards.