If you are considering a Florida prenuptial agreement, you need to understand exactly what the law allows – in other words, what a prenup can, and cannot, do for you.
A prenuptial agreement can:
Keep assets separate – A prenuptial agreement can ensure that an individual retains designated assets even if they are accumulated during a marriage that ends in divorce.
Protect family property – Whether it is a family heirloom, a vacation home or shares in a family business, a prenuptial agreement can protect property in case of a divorce or death to ensure the property stays within the designated owner’s family.
Provide debt protection – a prenuptial agreement can also limit one spouse’s liability for the other spouse’s debts, preventing creditors from going after marital property to satisfy outstanding liabilities.
Protect inheritances – If either spouse has children from a prior marriage or relationship, a prenup should be considered to ensure those children inherit their rightful share of that spouse’s property.
Define spousal support – In Florida, a prenup can define, restrict or even waive alimony rights as well as property division rights in the event of a divorce.
A prenuptial agreement cannot:
Restructure child or spousal support orders – this can only be accomplished through a court-approved modification of support.
Impose nonfinancial rules – a prenup is not a good vehicle for imposing rules about behavior, such as how children will be raised or how household duties are divided.