Should I Get A Postnuptial Agreement

State:
Georgia
Control #:
GA-01713-AZ
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Word; 
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Description

A postnuptial agreement is a legal document executed by married partners to establish their respective rights regarding property and finances in the event of divorce, death, or separation. It provides clarity on what constitutes separate and joint property and outlines how debts and liabilities will be managed, giving both parties legal protection and minimizing conflicts. The agreement requires both parties to fully disclose their financial statuses and seek independent legal counsel, ensuring that they understand the terms. This document is particularly valuable for attorneys, partners, owners, associates, paralegals, and legal assistants as it helps them navigate the complexities of marital asset division and provides a framework for advising clients considering a postnuptial arrangement. Filling out the necessary sections, including descriptions of assets and liabilities in Exhibits A and B, is essential for compliance and enforcement of the agreement. The postnuptial agreement can be amended or revoked with mutual consent, allowing couples flexibility in changing circumstances. Ultimately, it is a preventative legal measure that can safeguard individuals' interests within marriage.
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FAQ

Issues with Postnuptial Agreements A postnuptial agreement can be quite expensive to make and will require both parties to have a lawyer. Yours may not cover all divorce-related issues, especially those concerning children, which cannot be addressed in a postnup.

A postnuptial agreement cannot provide enforceable terms for child support or custody. However, it can include provisions for alimony since that is considered separately from a spouse's duties as a parent. (We have seen agreements that have a provision for child support, but it is not enforceable.

Some of the provisions commonly included in postnuptial agreements are as follows: How the couple will divide property and other assets in the event their marriage ends. Whether one spouse will pay spousal support and how for long such support payments will be continued.

Many couples assume they must hire a divorce lawyer to draw up a postnup, but this isn't necessarily true. If you and your spouse are on good terms and can communicate openly about your finances, you may be able to create the agreement yourselves.

A postnuptial agreement is a great way of discussing what is important in the marriage and solidifying plans for the future, financial or otherwise. This may involve discussing retirement plans, setting aside money for a child's future education, or saving up to buy a house.

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Should I Get A Postnuptial Agreement