Pre- and Post-Nuptial Agreements

While pre- and post-nuptial agreements of the past were usually reserved for the very wealthy, they are no longer just for movie stars, high paid athletes, and business tycoons. It is a well recognized that preparing a legal agreement between two parties who intend to marry, or are already married, is a logical and wise thing to do.

In the normal course, it certainly would seem that preparing a pre- or post-nuptial agreement is inconsistent with entering into what is anticipated to be a lifelong union. However, the union itself, that is, the marriage, is also a legal commitment requiring (in Florida, as well as in most states) a marriage license and ceremony before witnesses which is solemnized by a clergyman or other authorized individual. The marriage itself has various legal ramifications, rights, and obligations, both in life and in death. Thus, a pre- or post-nuptial agreement can assist in modifying or “massaging” those legal ramifications to more accurately express the desire of the parties should certain situations arise, whether during the course of the marriage, upon a dissolution of the marriage, or upon the death of one spouse during the marriage.

Such agreements may cover matters such as (but not limited to) the rights and obligations of each spouse in or to the property of the other; the right to buy, sell, or transfer property without the signature of the other spouse; the disposition of property upon separation, marital dissolution, or death; the establishment of conditions (or waiver) of spousal support; the making of a will, trust, or other arrangement to carry out the provisions of the agreement; or the ownership rights or disposition of death benefits from life insurance policies or retirement pension.

Sometimes, a spouse with significant assets might desire such an agreement for the purpose of providing economic protection by limiting or eliminating the amount of equitable distribution and/or alimony to which the other spouse would otherwise be entitled in the event of a dissolution of the parties' marriage. On the other hand, such agreements might also be beneficial to a spouse who is in a financially inferior position in the economic relationship, by setting forth support rights should the marriage fail, thereby providing a sense of security that would be an inducement to entering into the marriage. This is especially important when one spouse intends to devote all or a large segment of time to the home at the risk of loss of wage-earning capabilities. When a supported spouse knows that support will be forthcoming until his or her job skills are reacquired after the marriage, the spouse might be more receptive to interrupting a job or career. In this regard such agreements are said to promote marital tranquility and harmony.

In addition, such agreement may be used to convert what otherwise would be a non-marital asset into a marital asset. For example, if one spouse has received valuable stock in a company as a gift or inheritance from a parent, that spouse could agree that, notwithstanding its non-marital nature, in the event of the dissolution of the parties' marriage, the stock will be treated as marital and be subject to equitable distribution.

Moreover, if either spouse has children from a prior relationship, such agreements can assist in avoiding conflicts between, as well as protecting, both your spouse and those children.

But there can be much more in such agreements than just the financial aspect. They can also address personal rights and obligations such as how and where the couple will live, the type of lifestyle they will enjoy, or religious or educational goals for the children of the marriage.

To put together a comprehensive and legal document, the advice and assistance of an experienced family attorney can be most beneficial. The Law Offices of Robert L. Bogen has helped many of its clients in this regard.