You have head of a Pre-Nuptial Agreement. A Post Nuptial Agreement is similar, but is created after the wedding – sometimes years later. It outlines the ownership of financial assets in the event of a divorce. The contract can also set out the responsibilities surrounding any children or other obligations for the duration of the marriage.
Couples may have a variety of reasons to sign a postnup, from protecting an inheritance or providing for a stay-at-home spouse to assigning ownership of a business, repaying a parental gift, or salvaging a marriage.
Similar to a prenuptial agreement, postnuptial agreements allow a couple to alleviate tension caused by financial concerns. Entering into this style of contract will allow spouses to establish an equitable distribution of assets if the marriage dissolves.
Prenuptial agreements and postnuptial agreements are risky business as discussions about the subject can cause hurt feelings and arguments. One party may feel that the other party is not committed to the relationship if they are already making plans for the divorce. On the other hand, these agreements may solve some problems if they allow one of the parties to overcome their apprehension to the marriage.
The agreement must be in writing. Oral agreements are not enforceable. There must also be full disclosure of the facts about the financial positions of both parites.
If you to discuss one of these agreements, come in and talk to Steve Hair.
Steven W. Hair, focuses his practice as a divorce attorney, family law attorney in Clearwater, Palm Harbor, and Safety Harbor.
For more information, visit our website at www.FamilyLawClearwater.com
or call (727) 726-0797.