It may surprise you, but many marital troubles and disagreements can be solved by developing and signing an effective postnuptial agreement. To most couples, marriage (or a civil union) represents a romantic, legal, and economical union. When spouses don’t prepare a prenuptial agreement prior to saying, “I do,” they miss a great opportunity to address their deep-rooted relationship anxieties. Any concerns they have about individual or shared marital obligations and financial security may come to haunt their marriage and become a source of conflict. Luckily, there isn’t a time limit on drafting a postnuptial agreement.
Unlike a prenuptial agreement, a postnuptial agreement, or “postnup,” is drafted and executed when a couple is already married. When a marriage ends in divorce, a postnuptial agreement can protect a couple’s individual and marital property from unfair equitable distribution. It may also cover any agreements made in regards to child custody, child support, and spousal support. By having this legal document prepared in advance, a couple may be able to expedite the divorce process. This not only saves them money, but also protects them from undue stress and months of legal conflict.
A postnuptial agreement can address the following concerns:
- Which properties are held jointly or individually?
- How will assets and property be divided?
- Which debts are shared?
- Who is responsible for paying individual debts?
- Which spouse will pay spousal support, and for how long?
- How are earnings allocated?
- Is each spouse contributing to the household income?
- What happens to a jointly-owned business in the event of divorce?
- How much support should be given to children from previous marriages?
When a couple develops a postnuptial agreement, it gives each party an excellent opportunity to discuss and analyze their individual and shared spending habits, assets, and debts. By creating a safe space with a legal representative, both parties can explain their insecurities and hopes for the future. While a postnuptial agreement may lack romantic flair, it does produce a vital sense of security that benefits both parties.
Draft a Postnuptial Agreement Today
Creating an effective postnuptial agreement depends on three important factors: trust and honesty between the spouses, full financial disclosure, and a knowledgeable attorney. At The Virga Law Firm, P.A., we have represented countless married couples interested in protecting their assets. Our attorneys have over 40 years of experience and can guide you in drafting a postnuptial agreement that can hold up in court.
Discover peace of mind today. Call our attorneys at (800) 822-5170 to schedule a case evaluation.