What is a postnuptial agreement?

What is a postnuptial agreement?

Although prenuptial agreements are supposed to be done before couples have the official wedding ceremony, there is another way to have one done. Postnuptial agreements are basically the same thing. However, they happen after the couple is officially married. If couples have missed out on the opportunity to get a prenuptial agreement, they can opt for a postnuptial agreement instead. This can be beneficial for the couple because it can prevent future arguments. These types of agreements are not solely made for plans of divorce in the future. They can be beneficial in other instances. Couples can consider the benefits of a postnuptial agreement if they have not already gotten a prenuptial agreement.

Why do people decide to get a postnuptial agreement?

After couples are married, their assets may have changed. One spouse may have recently acquired a high net worth or a business. This could incline them to consider the binding document. One spouse may have inherited money or other possessions from a family member or loved one. They may wish to protect this asset by getting a prenuptial agreement signed by both parties. When one spouse acquires something significant, it can be easier for them to just claim it as their own to avoid conflicts. With business transactions, it is best to have everything written down in formal legal documents to prevent issues in the future.

What is included in these agreements?

A prenuptial agreement includes a list of all assets that are to be split between spouses. It can address inheritance, appreciation of property, spousal support, real estate and fidelity. Prenuptial agreements do not include any information regarding the children between the two individuals. The document should not include mention of child support or child custody since they are not to be decided at this time.

In order to ensure that a prenuptial agreement is legally binding, it must be in the form of a written document. Both parties had to have been voluntarily agreeing to decide on getting a prenuptial agreement and accepting the details of the document. To make it honest, there needs to be a full financial disclosure presented in this agreement. The agreement must prove to be fair and just for both spouses involved. When it is decided upon, it must be notarized to prove that it is legally binding.

The Pollack Law Firm, P.C. understands that divorce and family law matters can be very complicated and emotional. They require strong legal representation from a compassionate attorney. Robert Pollack is an experienced divorce and family law attorney in Long Island, New York. Contact The Pollack Law Firm, P.C., to set up a free initial consultation.

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