Should My Spouse and I Consider a Postnuptial Agreement?
Although prenuptial agreements have not always been popular, more and more soon-to-be-married couples are entering into these types of contracts. However, just because a couple did not do so before tying the knot, does not mean that they are out of luck, as married couples can use postnuptial agreements to achieve the same ends, namely, designating how assets and debts, as well as spousal support, will be handled in the event of divorce.
Although broaching the subject of a postnuptial agreement may be difficult, it is often in a couple’s best interests, so if you are married and have questions about whether entering into a postnuptial agreement is right for you and your family, it is important to consult with an experienced Fort Lauderdale prenuptial and postnuptial agreement attorney who can advise you.
When to Draft a Postnuptial Agreement
Although whether or not a couple should create a postnuptial agreement depends in large part on their particular circumstances, entering into this type of contract is especially encouraged in certain cases, including when:
- One of the spouses has a much higher income than the other;
- One of the spouses entered into the marriage with valuable assets;
- Either spouse experienced a change in financial status after the marriage took place;
- One of the spouses has decided to take a break from his or her career to provide child care or support the other spouse’s financial endeavors; and
- One or both spouses own a business.
Couples who are in these kinds of situations should consider entering into a postnuptial agreement to ensure that certain assets are kept separate and that both spouses are provided for in the event of divorce. Those who fail to do so, on the other hand, could leave themselves open to expensive alimony payments and the relinquishment of personal possessions and valuable assets.
Postnuptial Contract Validity
Postnuptial agreements are only helpful to a couple if they are deemed valid. In Florida, this means that:
- The terms of the agreement are fair to both parties;
- Neither party signed the agreement as a result of fraud, deceit, or misrepresentation;
- Neither party signed the agreement under duress or coercion;
- No assets were excluded or hidden when the contract was negotiated; and
- The agreement was entered into with advice from a licensed attorney.
Postnuptial agreements that do not satisfy these requirements can be ruled unenforceable by the court and so thrown out if a couple decides to divorce. Alternatively, if a court finds that only one of the provisions is unlawful, it could choose to only strike that portion of the agreement. To ensure that this doesn’t happen to you and your own postnuptial agreement is completed properly, please contact an experienced postnuptial agreement attorney who can assist you.
Contact an Experienced Postnuptial Agreement Attorney
To speak with dedicated Fort Lauderdale prenuptial and postnuptial agreement attorney Sandra Bonfiglio, P.A. about whether this type of contract is right for you, please call 954-945-7591 or send us an online message today.