Marriage is an exciting milestone filled with anticipation and joy. Preparing for the wedding, choosing where you’ll live, and dreaming about the life you’ll build together is a hopeful time when the future looks nothing but bright. The last thing many couples want to think about is a prenuptial agreement. After all, doesn’t a prenup assume your marriage will end in divorce?
That’s just one of the myths we’ll tackle. The family law team at Cobb Cole understands first-hand how prenuptial agreements can be one of the most empowering steps a couple takes before they say, “I do.” It sets clear expectations and protects both parties, strengthening the relationship and providing peace of mind for the shared journey that lies ahead.
Common Misconceptions About Prenups
Prenuptial agreements can be a valuable tool for couples planning to marry. They specify asset division, establish alimony terms, and provide financial peace of mind. However, they’re often misunderstood.
Here are some common misconceptions:
Myth #1: Prenups Are Only for the Wealthy or Only Protect the Wealthier Partner
Many people believe a prenup is a tool that only the wealthy use to shield their assets. This misconception overlooks the agreement’s broader applicability and the benefits it offers most couples, regardless of their level of wealth. A prenup helps protect both parties’ financial interests, safeguarding existing assets, future earnings, and inheritance rights. It can also outline each party’s responsibilities for debts incurred before or during the marriage, ensuring both partners are on the same page about their financial future.
Reality: Prenuptial agreements benefit couples of all financial backgrounds.
Myth #2: Prenups Are a Sign of Distrust
Some couples believe creating a prenup is a sign of a weak or already doomed relationship. On the contrary, prenuptial agreements demonstrate mutual financial and personal maturity, responsibility, and commitment to one another. Far from signaling mistrust, creating a prenup compels couples to engage in financial discussions that set clear expectations before tying the knot. This candid communication can help strengthen the relationship and prevent misunderstandings and conflicts later on.
If the marriage does end in divorce, a prenup can help you avoid a lot of the frustration and stress that often accompanies the process.
Reality: A prenup can enhance a relationship by promoting open communication about finances and expectations.
Myth #3: Prenups Are Unenforceable
Some people assume prenups are just “pieces of paper” that won’t hold up in court. In Florida, properly drafted and executed prenuptial agreements that are voluntary, fair, and fully understood by both parties are legally enforceable. Courts generally uphold prenups as long as they meet legal requirements, but they may not enforce provisions that are deemed unfair or unconscionable. Working with a knowledgeable family law attorney is vital to ensure a prenup is valid and enforceable.
Reality: Prenups are legally binding contracts, provided they are drafted and executed correctly.
Myth #4: Prenups Cannot Be Modified or Revoked
It’s reasonable to assume that once a prenuptial agreement is signed, it’s set in stone. However, prenups are not necessarily permanent and can be modified or revoked after marriage, provided both parties agree to the changes. Reasons a couple might want to revisit and update their prenup include significant life changes like:
- A child’s birth.
- Substantial increases in income.
- Inheritances.
Working with a family law attorney ensures these modifications are properly documented and enforceable.
Reality: Some prenuptial agreements can be modified or revoked after marriage, especially after notable life events.
Myth #5: Prenups Can Be Used to Disinherit Children
The belief that prenuptial agreements can be used to disinherit children is not accurate. While prenups can outline how assets are divided in the event of a divorce, they generally cannot determine what happens to a person’s estate, particularly concerning a child’s inheritance. Child support and custody are typically governed by separate family law statutes, which prioritize the best interests of the child and cannot be overridden by a prenuptial agreement.
Reality: Child support and custody issues are typically governed by separate laws.
Family Law: What to Know About Prenuptial Agreements in Florida
While the general principles of prenuptial agreements are similar nationwide, Florida Statute 61.079 specifies considerations to keep in mind when creating a prenup. For instance, state law emphasizes that prenuptial agreements must be fair and entered voluntarily. This means both parties must fully disclose their financial circumstances and be free from undue influence or coercion. Florida’s courts will not enforce terms of a prenuptial agreement that are deemed unconscionable or unfair, and the law does not allow prenups to address child custody or support issues.
Florida also recognizes postnuptial agreements, which often address issues similar to those covered in prenuptial agreements. It’s essential to consult with a skilled Florida family law attorney when drafting or reviewing a prenuptial agreement, as they ensure it complies with state law, protects both parties’ interests, and is enforceable.
Given that money is a leading cause of marital friction, a prenuptial agreement can be a wise choice. By addressing potential financial issues upfront, couples can create a stronger foundation for their marriage, minimize the risk of future disputes, and ensure their assets are protected and fairly distributed in the case of separation, divorce, or death.
Contact a Cobb Cole family law attorney today or call us at 386-255-8171 to learn more or schedule a confidential consultation.
