Postnuptial agreements are common in today’s society. In the event that your spouse informs you that he or she intends to draw up a postnuptial agreement, hire an experienced Suffolk county postnuptial lawyer who will represent you in the process an ensure that your wishes and rights are well represented. Find an experienced postnuptial attorney who will help you go through the postnuptial agreement and ensure that the agreement is in your favor before you append your signature to it.
Why are postnuptial agreements on the rise?
For the longest time, people have been accustomed to seeing couples signing legally-binding prenuptial agreements. Today, married couples in the U.S. have the option of entering into a legally-binding contract in the form of a postnuptial agreement. This relatively new form of agreement traces its history to the 1970s, when the no-fault divorce statutes were enacted. This agreement, just like the prenuptial agreement is meant to protect the interest of the spouses in case the marriage ends in a divorce. The rising cases of divorce in the U.S. is the primary reason why postnuptial agreements have continued to gain popularity among married couples.
Elements of a valid postnuptial agreement
For a postnuptial agreement to be valid and enforceable, it must meet the following minimum requirements set out in law:
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i. Must be written- The agreement must be in writing for it to take effect. Any oral postnuptial agreement cannot be considered to be valid.
ii. Must have been entered into voluntarily- Any signs that either of the partners was coerced or threatened into signing the agreement will invalidate it and render it null and void.
iii. Full and fair disclosure- At the time of entering into the agreement, both parties must fully and fairly disclose their income, assets, and liabilities to each other for the agreement to be considered valid and binding. In the event that it is found that one of the partners did not fully disclose the information needed, the agreement will not be enforceable in court.
iv. Fair- The postnuptial agreement must be balanced and it must treat both parties fairly. An agreement that is one-sided or extremely unfair to one party will not be considered to be enforceable.
v. Validly executed- The postnuptial agreement must bear notarized signatures of the two parties for it to be considered valid and binding.
What is included in the postnuptial agreements?
Generally speaking, postnuptial agreements have the same types of provisions as those found in prenups. The main difference is that the former is entered into before the contemplation of marriage while the latter is entered into after the couple marries. Postnuptial agreements will define the following:
• How the partners will share their marital property in case the marriage ends in divorce.
• Who will pay spousal support and for how long.
• How marital debts will be split between the two partners in the event of a divorce.
• How assets will pass in the event that one of the spouses dies during their marriage
How an attorney can help
Don’t leave anything to chance. If planning to make a postnuptial agreement, make sure that you do it right. Hiring an experienced Suffolk County postnuptial lawyer will ensure that your interest and wishes are well taken care of during the process of drafting the postnuptial agreement. Speak to a qualified postnuptial attorney who will ensure that you come up with a legally binding postnuptial agreement.