Most people are familiar with the concept of prenuptial agreements, but you may not be aware of the option for a postnuptial agreement. A postnuptial agreement is essentially the same as a prenuptial agreement, except that it is drafted and signed after the marriage has already taken place.
Interested in knowing more about postnuptial agreements? Our Tampa divorce lawyer has compiled the four most important facts that you need to know:
Postnuptial Agreements Must be Made in Writing
Open and honest conversations with your spouse are important to the success of your marriage, but an oral agreement as to how assets would be divided in the event of divorce are not legally binding. You should start the process of drafting a postnup with a candid conversation, but you also need to contact a Tampa divorce lawyer to put your intentions in writing. Once the document is drafted, you will both need to sign it and have it notarized.
There are Three Common Types of Postnuptial Agreements
It might come as a surprise to find out that there are different types of postnups. These are the three most common options:
- A postnup that is designed to divide the assets between spouses in the event of divorce.
- A postnup that waives the other party’s rights in the event that one spouse dies.
- A postnup that serves as an outline for a separation agreement.
Both Parties Must Work Together to Create a Postnuptial Agreement
A postnuptial agreement cannot be drafted and made legally binding by one spouse in secret. In order to be enforced, the postnup must be drafted by both spouses in cooperation with one another. This protective layer provides married couples with confidence knowing that they will not be legally betrayed by their spouse.
Postnuptial Agreements Should be Fair
An experienced Tampa divorce lawyer will work with you to make sure that the distribution of assets that is outlined in the postnup is fair and equitable. A postnuptial agreement cannot be used to predominantly favor one party, particularly if that party has accrued significant wealth since the start of the marriage. A postnuptial agreement serves as legal protection for both spouses in the marriage.
After reviewing these facts, you may feel like a postnup is the best option for you and your spouse. In order to fully understand and realize the benefits of a postnup, you should work closely with a Tampa divorce lawyer who is familiar with these agreements. For more information about the process of creating a postnuptial agreement, contact our law firm today.
If you have questions for a Tampa divorce lawyer, or are unaware of the terms and conditions of a Tampa divorce, talk to, and retain, a family law attorney who can help. Contact Damien McKinney of The McKinney Law Group to discuss your case further. He can be reached by phone at 813-906-0048 or by e-mail at [email protected]