Everything You Need to Know About Postnuptial Agreements

 Posted on April 11,2023 in Division of Property

Postnuptial agreements are legal documents that spouses sign after they get married. They are similar to prenuptial agreements, which couples sign before marriage, but postnuptial is signed after the wedding. Many misconceptions exist about postnuptial agreements. If you are interested in signing one, there are essential things you must keep in mind before you make the decision. In any event, an experienced family law attorney can help walk you through the process to ensure the process can be smooth.

What Exactly is a Postnuptial Agreement?

Essentially, a postnuptial agreement outlines how assets and debts will be divided in case of a divorce. It can also address issues such as spousal support and how property will be managed during the marriage.

Why Sign a Postnuptial Agreement?

Couples sign a postnuptial agreement for a variety of reasons. Sometimes, they realize that they should have signed a prenuptial agreement before getting married but, for whatever reason, did not. Other times, couples sign a postnuptial agreement to protect their assets acquired after they got married or address issues that have arisen during the marriage, such as infidelity or substance abuse.

What Can a Postnuptial Agreement Include?

A postnuptial agreement can address many issues, including:

• Division of assets and debts in the event of a divorce
• Spousal support or alimony
• How property will be managed during the marriage
• Inheritance rights
• Business ownership and management

How to Create a Postnuptial Agreement

To create a postnuptial agreement, both spouses must agree on the terms of the agreement and sign the document in the presence of a notary public. In addition, each spouse should have an attorney to review the agreement and protect their interests.

Enforcing a Postnuptial Agreement

If a couple decides to divorce, a postnuptial agreement can guide the division of assets and debts. However, if one spouse believes the agreement is unfair or was signed under duress, they may challenge it in court. To ensure that a postnuptial is enforceable, it should be fair and reasonable, and both spouses should fully disclose their assets and debts.

Contact a Rolling Meadows Postnuptial Agreement Attorney

Ultimately, signing a postnuptial agreement comes down to a personal decision. Couples considering signing into such an agreement have much to consider. Contact an experienced Arlington Heights postnuptial agreement lawyer with Law Offices of Donald J. Cosley for more information. Our seasoned attorney will walk you through what to consider as you weigh the possibility of signing a postnuptial agreement. Call 847-253-3100 for a free consultation.

Source - https://www.forbes.com/sites/jefflanders/2014/01/22/why-you-need-a-postnup-and-other-points-to-consider-before-leaving-your-paid-job-to-be-a-stay-at-home-mom/?sh=2c4498dd244c