A post-nuptial agreement is a voluntary written contract between spouses that is created after their wedding to settle their affairs and assets in the event of a separation or divorce.
For some couples a post-nuptial agreement can stop conflict and promote harmony in their marriage.
Like the contents of a pre-nuptial agreement, it can vary widely, but commonly includes provisions for division of property and spousal support in the event of divorce or death of one of the spouses.
Many married couples create post-nuptial agreements to help resolve issues in their marriage by removing a source of disagreement over finances, assets, children, etc. They can also be used by spouses as a way of controlling certain behaviors, such as adultery or over-spending.
Another reason to create this type of agreement is if the financial status of either spouse changes after the wedding, including a career change or receiving an inheritance, selling a business or a change in investment income.
For post-nuptial agreements to be legally sound, it has to be executed by two consenting adults who have been fully informed about the ramifications of the agreement, offer terms and conditions that are fair to both spouses, be drafted without either spouse being under duress, and include a full disclosure of assets and finances.
There are several factors that can result in an agreement being invalid, including:
- Failure to draft the document correctly
- Failure to adequately provide for a spouse
- Failure to fully disclose assets
- Failure to have each party represented by independent counsel
Keep in mind that circumstances and situations do change. The agreement should be drafted so that it takes into account the length of the marriage, or it may need to be revised periodically.
If you and your spouse are considering the benefits of a post-nuptial agreement, contact the Orange County law offices of Amy M. Montes. If you believe a post-nuptial agreement is a good idea for you and your spouse, we can help you understand the future consequences of specifications and draft a post-nuptial agreement that is legally sound. You can trust we will ensure all your assets will be protected, call us for a free consultation today.
