Last Updated on: 28th July 2023, 07:15 pm

Why It’s Important to Know About Postnuptial Agreements

After getting married, couples seldom think that they may get a divorce or face the death of one partner. However, when things go wrong in a marriage, and dividing assets becomes messy and contentious, postnuptial agreements can help partners divide their assets amicably. What is a postnuptial agreement? And what should you consider before signing one?

What is a Postnuptial Agreement?

A postnuptial agreement is similar to a prenuptial agreement, but it occurs after the couple gets married. Like a premarital agreement, both parties must have separate legal representation before signing. The purpose of a post-marital agreement is to determine how assets should be divided in the case of divorce or death.

Contents of A Postnuptial Agreement

Typically, these agreements will contain clauses about finances that cannot be split fairly between parties through court proceedings alone. Examples include:

– Debt and asset allocation: Full disclosure regarding any debts incurred during the marriage along with any significant past debts which are/might affect the union needs to be made known.
– Income earned by either spouse along with any accompanying expenses
– Spousal support (also called alimony) – usually establishing whether or not spousal support will be required and its amount.

When forming an agreement such as this, there are rules that need following for valid and enforceable terms without raising eyebrows from local laws.

Standards for Creating A Valid Postnup:

1. Complete Disclosure

Both parties require full financial disclosure before either party can proceed with drafting or working on post-marital arrangements.

2. Independent Legal Counsel and Certification

Each party should obtain independent legal counsel before signing the contract (or waiver if deemed unnecessary), issuing certification indicating his/her legal representation for matters covered therein.

3. Unconscionability Test

As per usual law practices, a postnuptial contract should contain terms that are “unconscionable.” This essentially means that the agreement is not one-sided or significantly disadvantageous towards one of the parties involved.

4. Voluntariness Requirement

Post-marital agreements need to be signed deliberately and without any psychological coercion or manipulation on the part of either party.

5. Written Contract Requirement

It’s worth reiterating a couple more times, but there absolutely must be a written agreement – oral contracts will be considered invalid.

# How Your Lawyer Can Help With Postnuptial Agreements

As described above, drafting a post-nup requires meeting certain eligibility standards while ensuring legal representation for each partner involved in contractual arrangements. According to state laws, this usually involves having signatures from both parties witnessed by an authorized public officer within their jurisdiction (notary public).

A lawyer can advise you on what options might work best depending on your particular situation when thinking about entering into such an agreement—for’s instance, when looking to protect interests like spousal support payments, residential property owned jointly or separate business ventures. Additionally, proper counsel can help ensure all clauses contained therein hold water and stand up to scrutiny should anything unfortunate happen later down the line.

When To Avoid A Postnuptial Agreement:

Before signing something as important as a lifetime commitment to your partnership in marriage, you want reassurance that it was dealt with fairly concerning asset and money distribution between parties concerned say if things don’t work out ideally in conjugal bliss.

If one half of a couple earns significantly less than their spouse now or has lower earning potential shortly after separation following divorce proceedings could see them get much fewer assets overall compared against bench trial resolutions instead meant little interference from third-party courts had just left coldly spoken rules wind up leading to unfair outcomes advantage disparities cause unnecessary stress division the home-front.

In Conclusion

Expecting that significant life changes take place down the road could mean avoiding perpetually stressing over potential outcomes through anticipating hazards in advance. For people considering getting married, it will help to think ahead about postnuptial agreements, as things can rapidly unravel unbeknownst to either party until it’s too late.

If you’re looking for more information about how to proceed with your pre-existing marital agreement or require a lawyer who specializes in drafting such contracts, reach out today!