The Florida postnuptial agreement is a legal document that defines the rights and obligations towards the individual and marital property of two married spouses.
The main difference between a postnuptial and a prenuptial agreement is the moment the agreement is entered into. The prenup agreement should be signed before the parties get married, while the postnup agreement can be signed at any point during the marriage.
The postnuptial agreement will determine the financial and non-financial relationship of the spouses from the moment they have signed the postnup agreement onward. By signing the postnuptial or marital agreement, the parties secure their interests and potentially save a significant amount of time and funds in the event of divorce.
Laws and Legal Requirements for a Postnuptial Agreement in Florida
The laws and legal requirements for a postnuptial agreement in Florida are all outlined in the court decisions and the few provisions of the state law. The court decisions are used to set precedents that are later referred to by other courts in determining the validity and legality of the postnuptial agreement form.
One of the most important cases for that set of criteria for determining the validity of the Florida postnuptial agreement is Casto v. Casto (1987).
In this case, the court states the following:
“The critical test in determining the validity of marital agreements is whether there was fraud or overreaching on one side, or, assuming unreasonableness, whether the challenging spouse did not have adequate knowledge of the marital property and income of the parties at the time the agreement was reached.”
Signing Requirements for a Postnuptial Agreement in Florida
The court also determined the formality criteria for the postnuptial agreement in Casto v. Casto. It stated that the postnuptial agreement must be made in written form. Moreover, it provided that both parties to the postnuptial agreement must sign the document.
The court, however, didn’t provide the notarization of the postnuptial agreement as a mandatory formality requirement. Nevertheless, the parties should always consider completing this step whenever it’s possible. This will additionally confirm the document’s authenticity and prevent any fraudulent activities.
Postnuptial Agreement Enforcement in Florida
The court can declare the Florida postnuptial agreement unenforceable if one of the spouses proves that they have executed the agreement against their will. This can happen due to fraud, deceit, coercion, misrepresentation, duress, or overreaching.
Moreover, the court can also declare the agreement unenforceable if one of the parties proves that the other party failed to provide a complete and truthful overview of their financial status.
Finally, the postnup agreement will be considered unenforceable if it’s not fair and equitable for both parties to the agreement.
What Can a Postnuptial Agreement in Florida Cover?
The postnuptial agreement in Florida can cover various matters related to the financial and non-financial relationships of the spouses.
Here, you can see some of the matters that are most commonly included in the postnuptial agreement template:
Provisions in a Postnuptial Agreement
Rights and obligations of the spouses in terms of their individual and marital property
Right to buy, sell, manage, lease, transfer, or mortgage the property acquired during the marriage.
Rules on the property division in case of a divorce, marriage dissolution, death, or any similar event
Matters connected to insurance, pensions, wills, trusts, and more
Choice of law that will apply to the prenuptial agreement
However, the provisions of the postnuptial agreement must be in line with public law and public policy.
Postnuptial Agreement in Florida: Validity Criteria
The validity of the postnuptial agreement form in Florida is connected with the formality criteria set by the state law. The Florida postnuptial agreement will be considered valid as long as it is made in written form and signed by both parties to the agreement.
Moreover, the postnup agreement must be signed during the marriage to be considered valid. This means that the parties can sign their agreement at any point during their marriage. They can also create multiple postnuptial agreements to regulate different matters, and they will all be considered valid.