Post-nuptial Agreements
In order to ensure that a party’s assets and property are safeguarded in the event of a split, many couples opt to draft a prenuptial agreement before they get married. However, while many couples are aware of what a prenuptial agreement entails, not many know they can also ratify the terms of their marriage after they say “I Do.” This process, known as a post-nuptial agreement, can drastically change the outcome of a divorce if couples choose to part ways, ensuring the rights of each party are fully protected and upheld.
A post-nuptial agreement is a written contract that is executed after a couple is married or enters a civil union. The purpose of a post-nuptial agreement is to settle disputes over a couple’s affairs, assets, spousal support, or other marital elements in the event that the parties decide to dissolve the marriage or separate.
In the United States, five elements are typically required for a postnuptial agreement to be valid. Similar to a prenuptial agreement, post-nuptial agreements must be written out, must be executed voluntarily, must provide full and/or fair disclosure at the time of execution, must not be unconscionable, and must be executed by both parties.
If you would like more information on post-nuptial agreements or would like to draft a post-nup yourself, contact a divorce lawyer near you to ensure the details of the agreement are valid and to reduce any chance of loopholes that your spouse can use against you in your settlement.
