The importance of a prenuptial agreement

August 7, 2012
By Alan R. Burton on August 7, 2012 11:26 PM |

Why is a prenuptial agreement important and what purpose does it serve? A prenuptial agreement is a contract between two adults, and it can cover a myriad of issues, limited only by the imagination of the contracting parties.
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A prenuptial agreement most definitely, and frequently will, alter the rights of the parties should a divorce subsequently occur. Many agreements provide for the complete waiver and relinquishment of alimony and other support obligations from one party to the other. However, under Florida law, a waiver of temporary alimony under an agreement is unenforceable. You may wish to confer and consult with an experienced divorce attorney regarding this, as well as any other aspects of a prenuptial agreement.

Valuable property rights can also be given up under the provisions of a prenuptial agreement. In Florida, marital assets are most frequently divided 50-50 upon a divorce, so if one party feels that they will be contributing to the marriage in a greater proportion, they might want to provide for that contingency.

The actress Courteney Cox, who is involved in a divorce proceeding with David Arquette, apparently overlooked the importance of a prenuptial agreement. You can read her story now by following the link to her story in Forbes.

Although a marriage is considered a "partnership", that partnership does not necessarily have to be an equal partnership. This, in essence, is what a prenuptial agreement is all about. Courteney Cox may learn an expensive lesson in failing to participate in the execution of a prenuptial agreement.

Prenuptial agreements must, at a minimum, include complete financial disclosure by both parties; be executed without duress; and each party should have independent legal advice. Many times the validity of agreements are challenged, so a financial sanction should be assessed against the challenger who does not succeed in their endeavor to void an agreement.

Further information may be obtained on this area of the law by contacting Alan R. Burton, Esq. directly. Appointments are available in Boca Raton and Fort Lauderdale.