Practice Areas

Pre and Post Marital Agreements

One of the most important asset protection vehicles for young or old is either a pre or post marital agreement. Let’s be realistic: The United States currently has the highest divorce rate at about 50 percent for first marriages and almost 70 percent for remarriages. Among all states, Florida has one of the highest, if not the highest rate.

Most persons considering marriage, especially second marriages, should sit down with an attorney and discuss the use of a pre-marital agreement. Florida has a sweeping elective share law that surprises most couples: Upon marriage, the new spouse immediately has a one-third interest in the estate of the other spouse upon death of that spouse. This one-third share encompasses virtually all assets. Read more about Florida’s Elective Share »

What is a Marital Agreement?

The premarital agreement is contract between two people in anticipation of their marriage. Such agreements may also be referred to as antenuptial or prenuptial agreements, and informally as prenups. The couple planning to be married decides how important financial matters will be resolved in case of divorce, separation or death.

Common issues prospective spouses negotiate include the following:

Division of real property and assets acquired during the marriage
Property entitlement and control in the event of divorce or death
Responsibility for liabilities incurred during the marriage
Designation of each prospective spouse’s "separate property"

Typical Scenarios

Prenuptial agreements allow modern spouses to control assets, liabilities and other matters in non-traditional scenarios. Here are a few common examples:

Second Marriage. Two people enter a second marriage later in life, financially sound and with adult children. They want their individual estates to go to their own children and not to each other upon divorce or death. Such a couple may use a prenuptial agreement to waive legal rights each may have otherwise had in the other’s individual property upon death or divorce to ensure that it goes to their respective children instead.
One or both Owns a Business. Two independent high-income professionals contemplating marriage, one or both of which may own a business that was formed prior to the marriage, may decide that they want to use a prenup to designate their future earnings during the marriage as completely separate property not subject to division upon divorce, and/or to designate that the business formed prior to the marriage and any appreciation in the value of that business will remain a non-marital asset.
Premarital Debt. A potential spouse may want the protection of an agreement before marriage that he or she will not be liable for the other's premarital debt.

Experience Matters

Rarick, Beskin & Garcia Vega has assisted Florida families and business persons for over 17 years in asset protection planning. To schedule a meeting, call (305) 556-5209 or (954) 566-1151, or email info@raricklaw.com.

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