While prenuptial agreements are the most widely known marital agreement, there are other types of legally binding contracts that a couple can make together. If you are already married, you and your spouse can establish boundaries and advance directives through a postnuptial agreement.
State law sets out specific rules and guidelines that these contracts must adhere to in order to be valid, all of which a Miramar postnuptial agreements lawyer could explain in more detail. Once retained, a dedicated marital agreements attorney could offer guidance about what to include in your unique contract and how to protect your best interests effectively.
State law establishes a married couple’s right to form a postnuptial agreement, or “postnup,” and sets out guidelines spouses must follow to create a legally binding contract. There are also laws governing the types of matters a postnup can address. Generally, postnuptial agreements may cover property rights, alimony, estate planning, and life insurance.
Spouses can use a postnuptial agreement to define each party’s rights over particular pieces of marital and non-marital property in advance. Establishing property rights can minimize confusion or conflict in the event of a future divorce.
In the same vein, this agreement can address how either or both parties may use or sell existing marital property, buy new marital property, and what should be done with marital property if one spouse dies before the other.
Postnups can also spell out which party would owe alimony to the other following a divorce or legal separation. Additionally, the contract might specify what amount that party would owe the other person.
It is also possible to address various estate planning and life insurance matters through a postnuptial contract. A skilled attorney in Miramar could be a useful resource in determining what a postnuptial agreement should contain and what terms it should include.
Under state law, a postnuptial agreement is not valid unless it is written and signed by both parties to whom it applies. Beyond that, a court must affirm an agreement is fair and equitable before it will adhere to any of the directives within it. This includes verifying that neither party signed the agreement under duress nor based on coercion.
If either party to a postnuptial contract was not completely honest or forthcoming about their financial assets, a court may consider the terms of the agreement to be invalid based on the fraudulent nature of negotiations. An experienced lawyer could inform spouses on the requirements for executing an enforceable postnup.
If you are already married, and you or your partner has experienced recent financial or health changes, you should consider executing a postnuptial agreement. A legally binding arrangement can help you limit conflict or misunderstanding upon divorce or death.
However, you must follow all applicable rules and restrictions for this kind of contract, which can be difficult to accomplish without legal guidance. A Miramar postnuptial agreements lawyer could provide the help you need to draft a functional and equitable contract with your spouse. Call us today to learn more.