Postnuptial agreements are very similar to prenuptial agreements. A couple who did not create a prenuptial agreement before marriage may decide to create a postnuptial agreement once they are married. A postnuptial agreement will outline what will happen in terms of finances or other major decisions should a divorce occur.
The experienced divorce lawyers at Tucker, Nong and Associates can help you create a mutually beneficial agreement that will protect each spouse in case a divorce does occur.
Postnuptial Agreements Help Both Spouses
Most couples do not understand the benefits of a postnuptial agreement. A postnuptial agreement does not mean that both spouses do not have faith in the marriage. Rather, it is designed to save both spouses financial and/or emotional hardship should a divorce ever occur. Ideally, a postnuptial agreement is created when a marriage is healthy/stable. Spouses should enter into creating a postnuptial agreement in the hopes that should a divorce occur, their rights are protected as well as their spouse’s.
Talking About Postnuptial Agreements
Sometimes couples find it easier to discuss financial matters or other practical matters after they are officially married. A couple should decide to create a postnuptial agreement in order to protect themselves and their spouses financial interests should a divorce ever occur.
It is important that a couple have full disclosure when discussing postnuptial agreements. It may be helpful to create a list of all personal property each spouse acquired before the marriage in addition to all property that has been accumulated since then.
An agreement should be reached when legal counsel is present. Although a postnuptial agreement is cooperative, each spouse should have their own lawyer. Some couples may elect to have one lawyer act as a mediator, but for best results, each spouse should receive personalized legal advice from an independent source.
Postnuptial Agreement Content
There is specific content that should be included in your postnuptial agreement. A comprehensive postnuptial agreement will include directions on how all debt should be paid should a divorce occur in addition to how property should be divided.
There should be clear directions on who should receive important assets such as the home (if any), inheritances, trusts or gifts. In addition to property allocation, the postnuptial agreement should designate how much spousal support/alimony should be paid and which spouse should receive payment. Spousal support/alimony should also include content outlining how health and/or life insurance should be paid.
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If you find yourself considering divorce or need to fight for custody of your children you need to speak with an experineced family law attorney as soon as possible. Please contact us online or call our Vienna, Virgnia office directly at 703.991.7978 or our Rockville, Maryland office at 301.637.5392 to schedule your free case consultation.