Prenuptial agreements were the norm till a few years back. However these days many couples opt for a postnuptial agreement in a bid to stop fighting about money. Rather than talk about just division of assets in case the couple splits up, a postnuptial agreement typically also sets out clearly the financial responsibility of the couple and how they divide their incomes, who pays for what and who saves for what. For instance, one might save for the kids’ college while the other saves for holidays or post retirement plans. Postnuptial agreements are referred to as separation agreements when they are entered into for the purpose of divorce or when divorce is imminent.

Here are some details about this new phenomenon:

• Most often couples begin to fight over money matters; with a premarital or postnuptial agreement, the roles of both party and their monetary obligations are clearly set out. Such an agreement is meant for deciding on the monetary obligations of both partners towards their living expenses, so as to avoid fighting over it. This kind of agreement can be used for delineating the duties and obligations of the partners even in a non-traditional relationship, during the relationship or in the event of any death or divorce.  In case of such an event, the provisions of the agreement have to be followed. The agreement can also set out the couple’s preferred method of filing taxes.
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• The postnuptial agreement is based on the presumption that both parties have fully disclosed their financial affairs without holding back. However, the same is not true of the prenuptial agreement, as the Court contends that the couple hasn’t entered into a confidential and intimate relationship. In case it emerges that one of the parties was holding back on his or her true financial status, a Florida judge might hold that the agreement was in bad faith and so invalid. So, it is in each party’s own interest to make a full and final disclosure of all their assets and liabilities.
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• Though the Florida Statutes hold that as long as the assets are disclosed, the exact value of the asset doesn’t matter, in practice, the family court judge might decide that the other party wasn’t informed of the assets at all, and hold the agreement invalid. The agreement, whether prenuptial or postnuptial, should cite the consideration for it. In the case of prenuptial, it is understood that the proposed marriage is the consideration.
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• In the case of postnuptial agreement, the document should clearly set out the reason/purpose/ consideration for it. If the agreement is meant to be treated like a will, it should adhere to the prescribed formalities for a legally valid and binding last will & testament. It should be properly witnessed by two witnesses and filed with the legal representative of the parties.
• If the document is also meant to enforce the waiving of the claim of one party to the other party’s assets, businesses, retirement plans or immovable property the agreement should explicitly mention that the first party knowingly waives his or her rights to the second party’s assets, businesses and retirement plans after being apprised of their value.  In case the nuptial agreement includes an alimony waiver, it should clearly and explicitly state what type of alimony is waived: permanent, rehabilitative, periodic, lump sum or bridge-the-gap.  In Florida, temporary alimony cannot be waived.

At Kenny Leigh & Associates, we know how hard it is to be the man getting divorced. Even with the majority of women earning at well-paid jobs, it is the man who is usually penalized and made to pay alimony and child support, sometimes even after the woman remarries. We are passionate about fighting for the rights of men and for fair treatment in the family courts of Florida. To this end, we take on only male clients and only divorce related cases. Trust our finely honed skills if you’re a man thinking of divorce in Florida. Step into anyone of our following offices for a consultation: Jacksonville, Gainesville, Boca Raton, Fleming Island, Daytona Beach and Ocala.