Postnuptial agreement in NC – Many people have heard of a prenuptial agreement but what if a couple is currently married, and they did not execute a prenuptial agreement but want to account for certain property and financial items now? Well, if they are planning to separate, they can enter into a separation agreement. If they want to remain married, however, they can enter into a postnuptial agreement.
In this blog, we will discuss postnuptial agreements and how they help married couples handle the planning of certain situations and items. Like all of our blogs, this is intended to provide some general information only, and is not intended to act as a substitute for the advice and counsel of a family law attorney.
What is a postnuptial agreement?
A postnuptial agreement is simply a binding contract between married parties regarding a large variety of items including but not limited to:
- The allocation of debts and liabilities
- How money and property will be allocated and separated in the event of a divorce
- How insurances policies will be divided in the event of a divorce
A postnuptial agreement is very similar to a prenuptial agreement. The main difference is that prenuptial agreements are entered into prior to the parties being married and a postnuptial agreement is entered into after the parties are already married.
Why do people use postnuptial agreements?
That’s a good question, and the answer also applies to separation agreements and prenuptial agreements. The answer is that in the event of a separation, some of the most highly contentious issues have something to do with money. In the event that some matters can be resolved beforehand, it gives the parties a better chance of resolving things amicably and through consent.
Requirements for a postnuptial agreement
Postnuptial agreements have all the requirements of any legally enforceable binding contract and more. In addition:
- Post nuptial agreements must be signed,
- It is suggested that each party have separate representation before the agreement is adopted,
- They require a full disclosure of all assets and liabilities by both parties.
The full disclosure is to be fair to both parties by ensuring that they are both fully informed of what assets and liabilities the other party has.
Family law can be extremely complicated, and it is usually in your best interest to get some professional advice from someone who is experienced in the area of family law. If you are in need of a family law attorney, contact us. We handle family law in Charlotte, NC and the surrounding areas.