Creating a Marriage Contract in Orlando: A Step-by-Step Guide
Marriage is a union of hearts, but in the eyes of the State of Florida, it's also a financial contract. While no one enters a marriage planning for it to end, discussing finances upfront is one of the healthiest things a couple can do. In Orlando, where property values and business assets are growing, establishing a clear agreement provides peace of mind that lets you focus on building a life together.
Do I Really Need a Marriage Contract in Florida?
In Florida, a marriage contract (commonly called a prenuptial agreement) is highly recommended if you bring significant assets or debt into the marriage, or if you own a business. Without one, the state's "equitable distribution" laws determine how your assets are divided if you divorce, which often means a 50/50 split of everything acquired during the marriage.
Many people think prenups are only for the ultra-wealthy living in Isleworth or Winter Park estates. That's a misconception. If you have a retirement fund, own a home, have children from a previous relationship, or expect an inheritance, a marriage contract is a vital tool. It allows you to define your own rules rather than letting a judge decide for you.
As a dedicated family law practice Orlando Florida residents trust, we often see that couples who have these difficult conversations early on actually have stronger marriages because they are on the same page financially.
What Are the Financial Benefits of a Prenup?
A well-drafted marriage contract protects pre-marital assets and clarifies financial responsibilities during the marriage, saving you thousands in potential legal fees later. A contested divorce in Orange County can easily cost between $15,000 and $50,000 per person. In contrast, drafting a solid prenuptial agreement typically costs a fraction of that, often ranging from $2,500 to $5,000 depending on complexity.
Beyond cost savings, a marriage contract offers several specific advantages:
- Asset Protection: It keeps property you owned before the marriage separate. This is crucial if you own a family business or real estate in areas like Dr. Phillips or Thornton Park.
- Debt Clarity: It ensures you'ren't held responsible for your partner’s pre-existing student loans or credit card debt.
- Estate Planning: It ensures your assets go to your children from a previous marriage rather than automatically passing to a new spouse.
By defining these terms now, you remove the uncertainty that often fuels conflict. If you need help understanding how state statutes apply to your specific situation, our family law team can guide you through the details.
What Should Be Included in the Agreement?
Your marriage contract should include a full disclosure of all assets and debts, terms for spousal support, and clear guidelines for property division. Florida law requires "full and fair disclosure" of financial positions. If you hide a bank account or an investment property, the entire agreement could be thrown out by a judge years later.
Common elements to include are:
- Property Division: Who keeps the house? How do you split the appreciation of assets?
- Alimony: You can waive spousal support or set a specific amount based on the length of the marriage.
- Sunset Clauses: Some couples include a clause stating the agreement expires after a certain number of years, such as 10 or 20 years of marriage.
It's wise to consult with a mediation attorney or a collaborative lawyer if you and your partner are struggling to agree on these terms. Mediation techniques can help you negotiate these sensitive topics respectfully before the document is drafted.
How Do I Make the Contract Legally Binding?
To make a marriage contract enforceable in Florida, it must be in writing, signed voluntarily by both parties, and executed with full financial disclosure. Oral agreements regarding property division are generally not recognized. Both parties must sign the document before a notary public, and it typically needs to be done well before the wedding day to avoid claims of duress.
Follow these steps to ensure validity:
- Hire a Qualified Attorney: Each partner should have their own family law practice Orlando Florida. Sharing one lawyer creates a conflict of interest.
- Discuss Terms: Sit down with your partner and decide how you want to handle finances.
- Draft the Agreement: Your attorney will create the document based on your wishes and Florida Statute 61.079 (the Uniform Premarital Agreement Act).
- Review and Revise: Read every line. Ask questions. Make sure you understand what you're waiving.
- Sign Before a Notary: Execute the document formally.
Can a Florida Judge Overturn a Prenup?
Yes, a Florida judge can overturn a prenuptial agreement if it was signed under duress, coercion, or if one party failed to disclose assets. One of the most common reasons agreements fail is timing. If you present a prenup to your fiancé in the parking lot of the Orange County Courthouse on the day you get your marriage license, it likely won't hold up.
We generally recommend finalizing the agreement at least 30 to 60 days before the wedding. This demonstrates that both parties had ample time to review the terms and seek independent legal counsel. Another red flag is an "unconscionable" agreement—one that is so heavily one-sided that no reasonable person would sign it. While the law allows for some disparity, leaving a spouse destitute while the other keeps millions may be challenged.
What Laws Govern Florida Marriage Contracts?
Florida follows the Uniform Premarital Agreement Act (UPAA), which provides a standardized set of rules for the enforceability of these contracts. This statute makes it clear that the agreement becomes effective upon marriage. If the wedding is called off, the contract is void.
In our 24 years of experience as a family law practice Orlando Florida, we have seen that adhering strictly to the UPAA guidelines is the best insurance policy for your assets. The statute covers everything from the rights to buy/sell property to the disposition of life insurance policies.
When to Start the Process
If you're planning a wedding, the best time to start your marriage contract is now. Rushing the process adds unnecessary stress to what should be a happy time. By handling the legal details early, you enter your marriage with clarity and confidence.
Don't leave your financial future to chance. Visit Ilvento Law or call Ilvento Law at (407) 898-0747 to schedule a consultation. We help clients across Central Florida create agreements that are fair, clear, and legally sound.