Residents of Florida are taking advantage of a new type of marital agreement called a postnup. Many of us are familiar with the term prenuptial agreement, which is simply a contract to protect a person’s assets in the event of a divorce. Postnuptial agreements are fairly new for most people and can be a great contract to have in certain circumstances.
What are postnups?
If you and your partner didn’t think about doing a prenuptial agreement prior to your wedding, you might have entertained the idea of a postnuptial agreement. This is very similar to a prenuptial agreement. However, this agreement is signed after a couple is married. Almost all of the 50 states now allow postnuptial agreements.
While having a postnuptial or prenuptial agreement may seem like a good idea at first, you need to really consider your individual circumstances. These types of agreements are best for those who bring lots of assets to the table. They’re also perfect for people who are on their second or third marriage and have children from previous marriages. If you’re a young couple that’s getting married for the first time and don’t have a lot of assets, a postnuptial or prenuptial agreement is likely not necessary.
What’s in a postnuptial agreement?
A postnuptial agreement is essentially instructions on how assets and property are to be divided if a couple divorces. This document is to help make the process easier in the event that a divorce happens. It’s important to realize that state laws override what’s put in a postnuptial agreement. All parties must follow the state laws regarding things like child custody, visitation, monetary support and inheritance.
Postnuptial agreements are starting to make waves throughout the United States as more and more couples are getting serious about preparing for the worst. While a postnuptial agreement can’t include the specifics that a prenuptial agreement can, they’re still a good idea to help make the process of divorce easier. If you’re thinking about creating your own postnuptial agreement, it’s always advisable to contact a lawyer to ensure that what you write is legally binding in the event that you want to enforce it.