How to Draft a Strong Premarital Agreement
No one gets married with the intention of getting divorced. Unfortunately, the statistics do not lie and they show that first marriages have a 41 percent chance of ending in divorce. Subsequent marriages are even more likely to end in a dissolution. For these reasons, it is recommended that everyone drafts a premarital agreement before tying the knot. Below, our Orlando premarital agreement lawyer explains how to do it.
Time it Right
The timing surrounding a premarital agreement is hugely important. If one spouse signed it just before the wedding, it gives the other spouse reason to challenge it by saying that they signed it under duress. Even one week before the wedding is not enough time. Instead, a premarital agreement should not be signed unless both parties have had time to do the following:
- Contact an Orlando premarital agreement lawyer and consult with them
- Negotiate the terms of the agreement
- Make any necessary modifications
- Make arrangements to sign the document in front of a notary and witnesses
While there is no specific time frame when a premarital agreement must be drafted and signed, waiting until the last minute is not recommended.
Provide Full Financial Disclosure
It is impossible to make a good decision regarding premarital agreements when a person does not have all of the information. Both spouses should ensure that the document accurately reflects their financial situation. All assets and earnings should be included in the agreement, even if only to classify certain property as separate. Valuing the assets within a premarital agreement can be challenging, so it is essential that each side is represented by an attorney who can help.
Make it Fair
Premarital agreements should be reasonable and fair. No document should ever heavily favor one side over the other. This can help ensure the premarital agreement is not challenged in court. Providing full financial disclosure and making sure it is timed properly are both provisions that ensure an agreement is fair but all terms should also be fair and unlikely to be challenged.
Record the Signing
You are not legally obligated to video record the signing of the agreement, but it can help prevent disputes in the future. Make sure the recording contains a review of all the terms and conditions within the agreement. You should also record each party stating that they understand the terms and conditions. The recording should show that each side had the opportunity to ask questions, as well. All of these elements can show that neither side was under duress and that both parties signed it willingly.
Call Our Premarital Agreement Lawyer in Orlando Today
It is a good idea to draft a premarital agreement before getting married. However, these agreements can only provide the necessary protection if they are drafted properly. At Anderson & Ferrin, P.A., our Orlando premarital agreement lawyer can draft your document to ensure that it is fair and that the courts will enforce it. Call us now at 407-412-7041 or contact us online to schedule a consultation with our experienced attorney and to learn more about how we can help.
Source:
leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.079.html
