Miami asset protection lawyer Phillip B. Rarick discusses three practical legal issues every parent should discuss with their daughter before she gets married: homestead right to property, 30 percent elective share in estate, and prenuptial agreements. These are specialized areas of law. A Miami asset protection attorney at the law firm of Rarick & Beskin can provide helpful guidance so that you can avoid heartbreak and hardship in the future. For more information, visit the Rarick & Beskin law firm website: http://www.rblawfl.com. Rarick & Beskin, P.A. 6500 Cowpen Road Miami Lakes, FL 33014 Phone: (305) 556-5209 Email: prarick@raricklaw.com Twitter: @rbgvlaw Check us out on Google+: https://plus.google.com/u/0/103582286965209576095/about Facebook: https://www.facebook.com/pages/Rarick-Beskin-PA/158089597555754 Script: Hi, my name is Phil Rarick. I am an asset protection attorney with the law firm of Rarick & Beskin located in Miami Lakes, Florida. The Big Announcement: your daughter tells you she plans to marry Hank, a great guy. She is so excited – and in love! The last thing you want to do is discuss “practical issues”. But, at the right time, it will be important to discuss “practical issues” to help prevent future heartbreak – and hardship. There are three legal points your daughter (or son) should know – and you should know before the big day. Number 1: Homestead. Your daughter (or son) contributes all the down payment to buy a house and titles the house in her name thinking that this property is her property until it is titled in joint name with her new husband. This is incorrect: on the day of marriage the husband acquires a homestead right to the property; specifically, the husband has a life estate in the house regardless of how it is titled. The property cannot be sold without his signature. Number 2: 30% Elective Share. As soon as the wedding ceremony is finished, the husband has a 30% share in all your daughter’s estate. If your daughter dies, the husband has a right to 30% of virtually all assets owned by her – regardless if the marriage is 1 year old or 30 years old. Number 3: Prenuptial Agreements Do Work. There is a legal myth that prenuptial agreements are not enforceable in Florida. Nothing could be further from the truth: A properly drafted prenuptial agreement with adequate disclosure is a tested legal tool to separate and protect assets that each person is bringing into the marriage. This is a specialized area of the law where you need an attorney experienced in asset protection law. I will be happy to meet with you and discuss your objectives.
