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A postnuptial agreement is a legal document that married couples create after they get married. It outlines how their assets, debts, and other important matters would be handled in the event of a divorce or separation.
A postnuptial agreement can protect each spouse's interests in the same way as a prenuptial agreement, since they can (and often do) opt-out of the same ?default? state marital laws and address the same topics.
A prenuptial agreement, or ?prenup,? is a written contract made between two people before they are married. By contrast, a postnuptial is an agreement that can be thought of as a prenup after marriage. Both agreements outline the prospective spouses' rights and obligations upon the end of their marriage.
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.
A postnuptial agreement must include the following elements: It must be voluntarily agreed to by both parties. It must be in writing. It requires full disclosure of assets and debts. It must not be one-sided in nature. It must be signed by both parties.
A prenuptial agreement is a contract written prior to a marriage that defines terms of divorce to foresee a positive outcome for both spouses in the event of a dissolution. A postnuptial agreement is a simple prenuptial but written after a marriage is performed.
The best way to protect assets is not a prenuptial agreement, but via an irrevocable trust. This helps to keep the assets outside your marital estate and is more difficult to contest in court.
Yes, absolutely. In determining the validity of a postnup, courts treat them with special caution. Even though the agreement may be exactly the same as a prenup, from a legal perspective, they are very different.