Can You Modify A Premarital Agreement?
Once, premarital agreements were largely reserved for celebrities or very wealthy couples that wanted to protect their high net worth assets in the event that they got a divorce. Today though, more and more people are drafting a prenuptial agreement before they get married for a variety of reasons. Premarital agreements are a legal document and as such, people think they can modify them in the future if they want to change the terms. While it is possible to modify a premarital agreement, there are a few reasons why it is not usually done.
Premarital Agreements are Not Usually Modified
A premarital agreement is a legally binding agreement that both parties enter into prior to a marriage. These agreements typically outline what property is considered marital property, and which assets are considered separate. These terms do not typically change after the marriage and so, couples rarely modify their premarital agreement.
Due to the fact that, unlike child custody agreements, the circumstances surrounding the premarital agreement are unlikely to change, it is important both parties think through the terms thoroughly before agreeing to them. You likely will not be able to change your premarital agreement once it is drafted and so, you need to be sure that you agree to the terms within it.
When Can You Modify a Premarital Agreement?
Just because premarital agreements are not modified often does not mean it is not possible to change them. Under Florida law, premarital agreements are not considered non-modifiable documents, so there are times when you may change yours. These are typically limited to when fraud or duress was involved, or when there is a mistake in the document. To make any change to an agreement, both parties must agree to the new terms in writing.
In some situations, one party may not agree to change the document. When that is the case, but certain facts are present, the agreement can be challenged and thrown out. For example, if one person presented the agreement to their partner the night before the wedding, a judge may consider that duress. Premarital agreements cannot be signed under duress and both parties must agree to the terms before they sign, and when any changes are made to it.
If you need to change your premarital agreement, it is best to work with an attorney that can ensure the final agreement will not need modifications. To avoid this scenario, it is even better to work with a lawyer from the very beginning to ensure you understand your rights, as well as what will happen if the marriage ends.
Call Our Family Lawyers in Orlando for Help with Your Agreement
If you are getting married and are thinking about drafting a premarital agreement, our Orlando family lawyers at Anderson & Ferrin can help. We will explain the law as it applies to marriage and divorce, and ensure your rights and your future are protected. Call us today at 407-412-7041 or contact us online to schedule a free consultation.