Many people are familiar with prenuptial agreements, but few have an understanding of postnuptial agreements and how they work. For an overwhelming majority of married couples, postnuptial agreements are the perfect legal alternatives to ensuring a successful marriage where individual assets and property are secured. Gainesville divorce lawyers at the Law Office of Silverman, Mack & Associates have assisted numerous married couples with postnuptial agreements and will be happy to help you and your spouse craft a document that is suitable to your needs.
The Purpose of Postnuptial Agreements
Postnuptial agreements serve unique purposes. They are legal documents that are drafted between spouses after or during the marriage. While postnuptial agreements typically serve to establish ground rules on how property will be distributed (in the event of a divorce), it may also outline the basic protocol of a marriage. For example, postnuptial agreements may indicate household responsibilities, allocate bills, and determine how existing and/or potential children will be cared for.
Prenuptial vs. Postnuptial Agreements
Prenuptial agreements and postnuptial agreements are both legal contracts shared between spouses that govern the terms and conditions of a marriage. The core difference is that while prenuptial agreements are established before individuals enter a marriage, postnuptial agreements are established after the marriage. In many cases, spouses may opt for postnuptial agreements to address and solve problems that arise during the marriage.
Is A Postnuptial Agreement Right For You?
It is vital to consult with a divorce attorney in Gainesville, FL to carefully weigh the advantages and disadvantages of postnuptial agreements. In many cases, postnuptial agreements benefit spouses by providing them with individual financial security. In other cases, a postnuptial agreement, and the terms and conditions thereof, may result in marital challenges. Consider the following pros and cons of postnuptial agreements.
- Reduction of conflicts during potential divorce proceedings and/or death of a spouse `
- Clear identification and distinction of marital property and non-marital property
- Secured protection of individual assets, inheritances and property
- Protection of large businesses
Postnuptial agreements are most advantageous to spouses who are willing to be honest and fully disclose their levels of income, assets, property, investments and debts. It is also recommended for individuals with large businesses/assets and individuals who have been married more than once.
- Postnuptial agreements may incite discomfort and other negative feelings between spouses
- Some forms of financial matters, such as child support, cannot be addressed in postnuptial agreements
- Depending on the timing, all financial matters and experiences may not be able to be effectively calculated and incorporated into a postnuptial contract
- Ses may not have total control; the terms and conditions of postnuptial agreements must be reviewed and approved by a judge to be considered valid
Once a postnuptial agreement is approved by a judge, the document becomes legally binding and enforceable. Before making the decision to enter into a postnuptial agreement, speak to a Gainesville, FL divorce lawyer.
Creating A Postnuptial Agreement
The first step to developing a postnuptial agreement that works for your marriage is to contact divorce lawyers. Postnuptial agreements can have serious financial, emotional and legal implications that may have a lasting impact. By speaking with a legal expert, you will become more knowledgeable of the process, as well as become aware of your rights and responsibilities.
After you and your spouse have decided that a postnuptial agreement is necessary, you will need to meet regularly with lawyers to draft a plan regarding marital issues and property. Once the document is finished, each party will review, agree and sign the document. Then, the document is sent to a judge for final review and approval.
Although a postnuptial agreement is a legally binding document, it can be amended or revoked by a signed written statement by both parties.
Divorce Law Firm in Gainesville, FL
At the Law Office of Silverman, Mack & Associates, our divorce lawyers in Gainesville, FL work tirelessly to ensure that married couples protect their dignity, assets and children during divorce. Postnuptial agreements are the perfect mechanisms to secure a healthy marriage and protect what you own if a divorce becomes necessary.
Contact our office today to discuss if a postnuptial agreement is right for you.