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Post-marital agreements are essentially the same as pre-marital or prenuptial agreements, except that they are drafted and signed by the parties after marriage. Parties may decide to draft these agreements if they are having problems in their marriage, such as if one partner is unfaithful or mismanages finances. A victimized party may wish to set rules to ensure they are financially taken care of in the event of divorce.
Regardless of your reason for considering a postnup, it is best to work with a dedicated attorney. The legal team at Yates & Wheland can explain the role of a Chattanooga post-marital agreements lawyer and help draft a document that suits your situation.
When drafting or reviewing a post-marital agreement in Chattanooga, a lawyer’s job is to analyze the parties’ financial situation, including their earning capacities and individual assets. This is a key step in determining what the court would consider a fair agreement in the event of a divorce.
To ensure that the postnup will be accepted as valid by a judge, an attorney must verify full disclosure of all assets. Additionally, both parties must be represented by legal counsel. An experienced lawyer will also review the post-marital agreement for a legal concept known as consideration. For a contract to be valid, both parties must give up something of value to receive something else of value. In this case, consideration may be the parties will stay married.
The lawyers at our firm understand what the law says about creating enforceable postnuptial agreements. An attorney must analyze the validity of a potential agreement on the front end. Creating an unenforceable document is a waste of time and money and could lead to lengthy litigation in the event of a divorce. Our skilled post-marital attorneys could help draft legally valid terms and ensure that both parties understand the agreement.
When drafting a post-marital agreement, the role of an attorney is to look at both parties’ financial statements and tax returns. Asset assessment must take the following issues into account:
A lawyer should have a full picture of these items in order to properly advise their client. The assessment phase is involves gathering information from both parties and through the other party’s counsel.
As far as postnuptial negotiations go, a lawyer experienced in this field will understand where a court might land on a divorce order given a particular situation. For instance, an attorney could advise a client on the likely range in which a court would land for alimony. To make the agreement fair, the lawyer might recommend that the client negotiate within that range.
If disputes arise, an attorney’s job is to ask their client various questions about the post-marital agreement. How did they enter into the postnup, and what circumstances surrounded the agreement? When was it signed? A local postnuptial attorney can assess whether the agreement is legally enforceable and help their client work through their options.
When it comes to protecting your financial future during your marriage, the role of a Chattanooga post-marital agreements lawyer cannot be overstated. An attorney can advocate for your best interests and advise you on your options. If disputes arise, a legal advisor can ensure that your rights are being respected by the other party. Call Yates & Wheland today to learn more about our services.