Florida is an equitable division state, which means that marital assets must be divided in a manner a court would consider to be fair. This might mean that you would lose majority ownership of a business, funds in a bank account or other important assets. However, a prenuptial agreement may make it easier to protect yourself in the event of a divorce.
An overview of the prenuptial agreement
As the name suggests, a prenuptial agreement is executed before your marriage becomes official. The document may be used to stipulate that assets such as your home or business should remain your sole property even if state law says that they are joint items. It may also be possible to stipulate that neither party to the marriage is entitled to alimony if the relationship comes to an end.
What a prenuptial agreement can’t do
Typically, prenuptial agreements cannot be used to settle issues related to child support or child custody. While you can create a parenting plan outside of court, it must be approved by a judge before it goes into effect. Furthermore, courts rarely enforce terms of a prenuptial contract that don’t relate to financial issues. For instance, a judge probably won’t force your spouse to do the dishes or to dress a certain way while in public even if the agreement states that your partner must do so.
Prenuptial agreements may be an effective tool for anyone who wants to protect themselves in the event of a divorce. You may also find that the process of negotiating the terms of the contract may strengthen the bond that you have with your partner and reduce the risk of your marriage coming to an end.