This Postnuptial Property Agreement is made with the intent to define and specify the respective and collective rights of the parties in the separate and joint property of the parties. The parties acknowledge that they were represented by counsel during the negotiations of the agreement and the legal consequences of the agreement have been fully explained.
Should I Get A Postnuptial Agreement
State:
Virginia
Control #:
VA-01713-AZ
Format:
Word;
Rich Text
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How to fill out Virginia Postnuptial Property Agreement?
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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.