In the current age, most people are generally aware that many marriages are ending in divorce. Certain couples even find themselves planning for worst case scenarios. Using a postnuptial agreement can assist in doing so. Postnuptial agreements are similar to prenuptial agreements. However, these agreements are made after the wedding.
Since each state has their own requirements for postnuptial agreements, checking with the state laws is essential.
Generally, a postnuptial agreement must meet the below-mentioned criteria:
• Should be in written form.
An oral agreement cannot be enforceable for the marital division of assets.
• Should be signed.
Both spouses have to verify their agreement through signature.
• It should be voluntary.
A spouse can’t force or threaten the other spouse to sign the contract. If so, the contract is unenforceable.
• Should be fair.
The postnuptial agreement can’t be one-sided or contain unfair terms.
• There should be full disclosure.
Assets, income, debts, and property should be disclosed by both spouses.
Couples frequently contemplate a prenuptial agreement way before they get married. When it comes to a postnuptial agreement, this happens after marriage. A single spouse’s out of control behavior, or spending might suggest a postnuptial agreement for the couple.
The terms of a postnuptial agreement could be the same as a prenup and would include the same kind of issues such as:
• Which spouse would be able to keep the specific property.
• Which spouse would pay alimony, the amount, and for how long.
• Which spouse is involved in marital debs such as mortgages, loans, etc.
• How property is divided.
If spouses aren’t sure about the terms of their contracts or any related divorce procedures, seeking the help of a divorce attorney Orlando would be able to assist in all relevant divorce-related proceedings to ensure clients go through the right path for their case.
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