While many people are familiar with a prenuptial agreement, also known colloquially as a “prenup,” fewer people are aware of the benefits of a postnuptial agreement. Like a prenup, these family law contracts help married people keep their property separate and provide for support in the event of a divorce.
A postnuptial agreement can be signed at any time during a marriage but are most commonly created after a major financial change and through consultation with a dedicated family attorney. If you and your spouse would like to have more control over your assets in the case of a divorce, speak with a Forsyth County postnuptial agreement lawyer today.
A postnuptial agreement is a marital contract that two parties can sign after they have legally married. These contracts can have nearly any terms that the couple wants, from outlining the responsibilities of each person during a marriage to determining how they will divide property in a divorce. They might provide for alimony or spousal support, or could make these payments contingent on one spouse meeting certain conditions.
A valid marital contract needs to be signed voluntarily by both parties in the presence of two witnesses. Any promises the spouses want to make to each other about their financial assets should be included in this document, as oral agreements are invalid and will not be enforced.
When deciding whether or not a postnuptial agreement is valid, courts analyze the terms of the contract according to three criteria:
Unless a party can prove that the postnuptial agreement is invalid for answering any of these questions in the affirmative, it should be upheld by a Georgia court. Working with a Forsyth County postnuptial contract attorney could be the best way to ensure an agreement is drafted to be fair and enforceable.
Postnuptial agreements can be useful in a myriad of circumstances. Sometimes, couples sign a postnuptial agreement to make changes to or update their prenuptial agreement.
Other times, these contracts are created from scratch after one or both spouse’s financial situations change. For example, a spouse who starts a business may wish to limit their partner’s liability for the company’s debts in case it should fail. Conversely, the business-owning spouse may want to limit how much of an interest their partner could receive in the business in a divorce.
These agreements are also common in situations where one spouse has children from a previous marriage. A postnuptial agreement lawyer in Forsyth County could help a couple make sure through such a contract that some property stays separate and is protected as an inheritance for their biological children rather than being split with their former spouse.
Postnuptial agreements can be prepared at any time during a marriage, from a day after the wedding to the day before a divorce. These marital contracts allow married couples to know exactly what will happen if they separate and will enable each spouse to prepare for their future if their relationship does not succeed.
If you and your partner would like to create a marital contract, there is professional help available to you. Call today to schedule an appointment with a Forsyth County postnuptial agreement lawyer and learn more about your options.