For many couples, discussing the idea of a prenuptial agreement can feel awkward or uncomfortable, as it can appear as though one spouse is considering divorce before they are even married. However, discussing these agreements is important, as it can help ensure you are on the same page, especially regarding finances. If you and your spouse didn’t create a prenuptial agreement but want to, you still have options. You can establish a valid postnuptial agreement to help protect your assets should you divorce. The following blog explores this option in further detail and why it’s in your best interest to work with a Somerset County prenuptial agreements attorney who can help you draft this document.
What Is a Postnuptial Agreement?
A postnuptial agreement is a legally binding contract established by a married couple that discusses what will happen to their assets in the event they should divorce or one spouse passes away. This can help protect assets that are obtained during the marriage and may include assets obtained before the marriage. Some spouses may want to create this document if they discover they are coming into a significant inheritance or if one spouse is going to sacrifice their career to become a stay-at-home parent.
In addition to discussing what will happen to the shared assets in the event of a divorce, a postnuptial agreement can also include terms regarding alimony.
It’s imperative to understand that matters involving child custody and child support cannot be included in a postnuptial agreement. This is because the courts do not want to enforce a legally binding document that may not reflect the best interests of the child when the divorce occurs.
What Makes a Valid Postnuptial Agreement?
Though it may seem simple to create a postnuptial agreement, there are rules that the couple must follow to ensure the document is legally valid. Typically, you must ensure that the postnuptial agreement is written, fair to both parties, and voluntarily signed by both spouses. Additionally, a postnuptial agreement requires full disclosure of assets at the time of the document’s conception.
If you do not provide your spouse with all necessary and relevant documents regarding your assets, properties, and debts to secure a more favorable outcome in the event you should divorce, your agreement can be deemed invalid by the court. As such, your document would not be honored, and normal divorce proceedings would occur.
Creating a postnuptial agreement can be an incredibly complex process. As such, it’s imperative to work with an experienced divorce attorney from the Siragusa Law Firm. We understand how confusing these matters can be, which is why our firm can help you navigate these complicated matters to achieve peace of mind that your agreement is legally binding. Connect with our team today to learn how we can help guide you through these times.
