Postnuptial agreements are legal contracts between spouses that outline property division and asset distribution if the marriage ends in a divorce or separation. These differ from prenuptial agreements, which are signed before the marriage by being signed after the couple has already married.
Is a postnuptial agreement right for you? Before creating one, it is critical that you and your spouse decide if it is the correct decision for your marriage. They can have practical advantages in the following situations:
If any of the above points apply to you, you should speak to your family law attorney about a postnuptial agreement.
You will want to take several steps to create a postnuptial agreement. Some are more obvious than others. The steps we suggest are listed below:
After your attorney has all the information listed above, they will draft the agreement, listing how debts and assets will be divided in the case of a divorce. At this point, provisions for spousal support, or alimony, can also be noted.
While postnuptial agreements demand contentious consideration, detailed financial information, and the precision of an experienced family law attorney, they can create a legally binding contract that can protect you and your assets. This contract can ensure a more amicable divorce or separation with more ease in the division of assets.
The attorneys with Cohen Family Law, LLC, can help you protect your assets by drafting a postnuptial agreement that ensures your business and property are secure.