You’ve likely heard of a prenuptial agreement in today’s society, but do you know what a postnuptial agreement is? Similar to a prenup, a postnup will divide the assets of each of the spouses and will determine who receives what in the event of death or divorce. The main difference is that a postnuptial agreement is done after the couple has already married. A postnuptial agreement puts your assets in the hands of you, rather than the property of New York State. When agreed upon by both parties, and is signed, a postnuptial is valid in the State of New York, just like a prenuptial agreement would be. If you have any questions regarding postnuptial agreements, know that a divorce lawyer in Suffolk County can help.
Which Issues Can a Postnuptial Agreement Resolve?
When meeting with a divorce lawyer in Suffolk County they will discuss the various types of assets that this agreement will address. These include:
- Separate Property: This includes both assets and property that each spouse brings into a marriage. A postnuptial agreement will identify which asset belongs to each spouse.
- For example – Claiming the money that is rightfully yours that you and your spouse have within your joint bank account. This will be helpful in the event of a divorce down the line.
- Marital Property: Just like a separate property, you can also determine among you and your spouse what is qualified as marital property.
- For example, marital property can include your home or other real estate ventures acquired.
- Establishing Maintenance: A postnuptial agreement can establish what kind of support the other spouse will give (such as child support) in the event of a divorce.
- Pre Marital Debt: If a debt is brought into the marriage from one spouse, this agreement will state that the debt remains with that spouse. This will allow the debt-free spouse to be free on any worry or concern at a later time.
What Is Required for a Valid Postnuptial Agreement?
The requirements for a valid agreement include:
- The document must exist in written form.
- No vocal agreement is valid in New York State courts.
- The document must be signed by both parties before a notary and have legal representation as an option.
- A full understanding and transparency with a clear financial disclosure.
Contact a Divorce Lawyer in Suffolk County:
Having a lawyer help you establish a postnuptial agreement ensures that there is no manipulation or intimidation between both parties within the marriage. If you and your spouse believe a postnuptial agreement is right for you, there is a professional team t Simonetti & Associates that can help! For a free consultation with a divorce lawyer in Suffolk County, contact us today!