Getting A Postnuptial Agreement
While most people have heard about prenuptial agreements, not everyone is aware of postnuptial agreements. Like a prenuptial agreement, a postnuptial agreement indicates how a married couple’s assets will be divided after a divorce and the amount of spousal support one must pay to the other. However, a postnuptial agreement is made after a couple has gotten married.
A family lawyer in Rockville, MD from Daniel J. Wright can provide some further information about postnuptial agreements — such as the advice they have provided below.
What’s Included in a Postnuptial Agreement?
Postnuptial agreements typically include the same types of provision as prenuptial agreements. Here are some of the most common provisions in postnuptial agreements:
- How marital debts, including mortgages and credit card debt, will be divided in the event of a divorce
- How marital assets will be divided in the event of a divorce such as the ownership of a residence
- Whether or not one spouse must pay spousal support in the event of a divorce
- How much child support one spouse will provide to minor children in the event of a divorce
What Can’t a Postnuptial Agreement Do?
A postnuptial agreement is unable to get rid of legal duties of a spouse or deal with child custody or child support issues. This agreement is also unconscionable, meaning that it can’t favor one spouse over the other.
While a postnuptial cannot help you with those, a family lawyer is also able to help. If you find yourself facing other issues after a postnuptial agreement, keep your family lawyer around!
When Is a Postnuptial Agreement a Good Idea?
Not all couples who enter into postnuptial agreements are necessarily thinking about getting a divorce. They may enter into these agreements for many other reasons. For example, if you have children from other marriages, you might want to make sure that your assets go to them no matter what. Getting a postnuptial agreement can guarantee that your children receive these assets.
If your spouse has been financially irresponsible during the marriage and caused you a lot of stress, you may also want to consider a postnuptial agreement.
Another reason you may consider getting a postnuptial agreement is if you just inherited a home or another large asset and want to claim it as your own.
If you have any questions as to what to protect and how, never worry about reaching out to a family lawyer; they are more than happy to help guide you through every step of the process.
When Is a Postnuptial Agreement Unnecessary?
Postnuptial agreements don’t make sense for every married couple. For instance, if there’s a significant income disparity in your marriage, the spouse who earns less may feel that they wouldn’t receive adequate support in the event of a divorce.
Each situation is unique, and it is up to you and your spouse to decide if you would like to create a postnuptial agreement. If you are both interested in one, you should contact a family lawyer today for a consultation.