Postnuptial Agreements Lawyers in Clarksville Ensure Your Financial Interests Are Protected
Nobody wants to think about the possible end of a relationship when it is just beginning. However, deciding how you want to divide property and handle financial matters when you’re still getting along with someone is usually much easier than doing it after the relationship has ended. If you didn’t do a prenuptial agreement, you still have the opportunity to set out this plan in a postnuptial agreement. However, it’s important to understand what a postnuptial agreement is, what purpose it serves, and what rules it has to abide by before getting started. We’ve covered some of the common questions about postnuptial agreements below and how they can be of benefit to you.
Things like property division and spousal support are issues that are best decided before the relationship sours. If you want to make sure that your assets are protected and that you have a clear plan for the future contact our firm to discuss a postnuptial agreement.
What Is a Postnuptial Agreement?
A postnuptial agreement is a legally binding document that is created after the marriage that outlines the property division and financial support plan in the case of divorce. A postnuptial agreement covers the same types of things that a prenuptial agreement does. The only difference between these two documents is when they are created. A postnuptial agreement can help you ensure that you have a clear plan for who retains what property and how any joint property that comes about through the marriage will be divided if the marriage ends. These kinds of documents can be very helpful in expediting the divorce process and are often fairer than what happens if this discussion doesn’t take place until divorce proceedings are underway.
Are There Guidelines for What Can Be Included in a Postnup?
You may have seen some articles or videos about strange things people put in their prenup or postnup documents. However, the law is very clear on what kinds of things can be set forth in a postnuptial agreement. In general, the only thing a postnuptial agreement can cover is property division and financial payments other than child support. So, a postnuptial agreement can talk about who gets what assets, what to do with joint investments, and whether alimony is paid, but it can’t cover anything related to child custody or child support.
How Is a Postnuptial Agreement Enforced?
A postnuptial agreement is enforced by the family courts. When a couple decides to divorce and has a postnuptial agreement, one or both parties usually file a petition to have the courts enforce the postnuptial agreement. At this point, the judge will review the postnuptial agreement to make sure that it has been prepared according to the state guidelines and is able to be enforced. It is possible for one party to petition the courts not to enforce the agreement as well, but they will need to show cause as to why the agreement is not legally binding. Once the court has determined to enforce the agreement, any party who refuses to abide by the ruling can be found in contempt.
Can a Postnuptial Agreement Be Modified Later On?
Yes, a postnuptial agreement can be modified at any point prior to the divorce. And this is a good idea in many cases because it’s common for the couple’s financial situation to change over the years. If you have an existing postnuptial agreement and want to update it to better reflect your current circumstances, you can talk to a family law attorney. Both parties will need to be in agreement for the postnup to be modified. Once a divorce is filed, you cannot change a postnuptial agreement.
Nobody goes into marriage hoping for a divorce, but unfortunately, it happens sometimes. By having a postnuptial agreement in place, you can ensure that the process is as easy and efficient as possible. Call 931-236-2711 to schedule a consultation with one of our attorneys and find out more about the benefits of creating a postnuptial agreement.