A recent Florida Supreme Court ruling has been noted as a decision that will clarify previous prenuptial agreement confusion spanning decades. The Florida Supreme Court ruled that a voluntarily executed prenuptial agreement was valid even though the terms turned out to be not beneficial for one spouse and were be in violation of Florida law.
The court ruled that according to the terms of the prenuptial agreement, the wife was bound by a provision that prevented her from claiming any interest in property that was in her husband’s name, including if it was bought by him or increased in value during the couple’s 22-year marriage. The wife was 28 at the time of marriage and the husband was 46. In reaching its ruling, the court noted that the prenuptial agreement was a valid contract that should be enforced.
The court also noted in reaching its decision, that both the husband, who was a real estate developer, and the wife, had advice and guidance when entering the prenuptial agreement. While the dispute between the couple was concerning greater than $10 million, the wife will still receive nearly two million dollars over seven years. According to one attorney, the decision will benefit couples in Florida who use prenuptial agreements.
Prenuptial agreements can be an important family law tool to help couples entering a marriage clarify expectations for the marriage and beyond. For example, through a prenuptial agreement, the couple can decide property division and other potential divorce issues before their arise, just in case the marriage does not last. Thus, prenuptial agreements can help the couple avoid end-of-marriage disputes.
Because there are important rules and requirements associated with prenuptial agreements, couples entering a marriage should familiarize themselves with the process to help determine the ways a prenuptial agreement can help them.
Source: MyPalmBeachPost, “Supreme Court ruling in Boca divorce firms up force of pre-nups,” Jane Musgrave, Sept. 10, 2015