Why Prenuptial and Postnuptial Agreements can be very important in second marriages

by | Dec 7, 2010 | Estate Planning, Law Articles |

There have been some interesting changes to Florida’s homestead law which will make prenuptial and postnuptial agreements important for second marriages in many situations.
The new rule applies to any married couple. As an example: Husband owns a home in just him name prior to marriage to wife that then becomes the couple’s homestead after they marry. Husband had children from a prior marriage that he wishes to inherit his homestead upon his new wife’s death. Husband dies. Under the old law wife would have gotten a life estate in the homestead and the remainder would have passed to husband’s kids. Under the new law, new wife can make an election after his death to become a 50% owner in the property and can then force a sale. The reason for my statement is that I can see this popping up alot more in second marriages, however, it can apply at any time. WIth a good prenutial or postnuptial agreement this result can be prevented. If we can help you with that please let us know.