What Is A Postnuptial Agreement?
A postnuptial agreement is similar to a prenuptial contract, except that (as the name suggests), postnups are legally binding contracts that couples enter into after a marriage has already taken place. These agreements can be used to determine how a couple’s assets and debts will be divided in the event of divorce, but can also address things like spousal support and estate planning. To learn more about postnuptial agreements and whether they could be right for you and your spouse, reach out to our legal team today.
What are the Benefits of a Postnuptial Agreement?
Like a prenuptial agreement, postnuptial contracts can help married couples lay out how their assets will be divided in the event of divorce or one of the party’s deaths. This, however, is not the only benefit to entering into a postnuptial agreement, as these contracts can also be used to:
- Define what qualifies as a marital asset, preserving premarital assets for one party;
- Manage responsibility for repaying certain debts, including student loans;
- Determine the terms of alimony (e.g. amount and duration of payment) in the event of divorce;
- Protect family heirlooms;
- Delineate the obligations of each party during the marriage, including who will be responsible for certain expenses;
- Safeguard business interests; and
- Protect children from a previous relationship by ensuring their inheritance rights in the event of either party’s death.
While any couple could benefit from a postnuptial agreement, certain individuals may find it more helpful than others.
Who Should Consider a Postnuptial Agreement?
Couples who enter into a marriage with substantial assets, or who expect to inherit in the future can benefit from entering into a postnuptial agreement, as these contracts can help protect those assets throughout the marriage and in the event of divorce or death. These agreements can also be used to address issues that a couple didn’t discuss before they got married, like responsibility for certain debts. Postnuptial agreements can also be helpful to those who own a business and want to ensure that the income and assets from that business remain separate from marital assets. Without such an agreement, a spouse could be entitled to a portion of that business if the other spouse passes away or if the couple get divorced. Couples who have children from prior relationships also often benefit from these agreements, which can be used to ensure that those children are provided for in the future, regardless of the fate of the marital relationship.
Speak with a Skilled Fort Lauderdale Prenuptial and Postnuptial Agreement Attorney
If you think that a postnuptial agreement could be right for your family, or you have questions about the ins and outs of entering into this type of agreement, don’t hesitate to reach out to experienced Fort Lauderdale prenuptial and postnuptial agreement lawyer Sandra Bonfiglio, P.A. for advice. You can set up a free consultation by calling our office at 954-945-7591 or by completing one of our online contact forms. A member of our legal team is standing by and prepared to get started on your case right away.
Sources:
floridabar.org/the-florida-bar-journal/relationship-dissolution-planning-part-1-nuptial-agreements/
leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.079.html
