While many people are familiar with the concept of a prenup, the idea of a postnuptial agreement might not be as well-known. A postnuptial agreement is a binding legal document signed by a married couple that stipulates some of the terms of a potential divorce. The agreement does not mean the couple will get divorced, but it does provide financial certainty should the relationship fail in the future.
An experienced family law attorney could advise you on your rights regarding a postnuptial agreement. Whether you are protecting a closely-held business or have concerns after partner infidelity, a discussion with a Hamilton County postnuptial agreements lawyer could be in your best interest.
Postnuptial agreements—frequently referred to as antenuptial agreements—are legally binding contracts between two married individuals. As is the case with any written contract, these agreements must be drafted in a clearly and legally enforceable manner. Additionally, a postnuptial agreement is valid only if each of the parties enters into it free from coercion, duress, or fraud.
While postnuptial agreements are enforceable under state law, the courts treat prenuptial and postnuptial agreements differently. Unlike a prenuptial agreement, a postnuptial agreement requires both parties to have additional consideration for the contract to be binding. Consideration involves both parties exercising a right to do something or refrain from doing something. A skilled lawyer in Hamilton County could shed light on what constitutes consideration for a postnuptial agreement.
These agreements can address a range of circumstances should the couple divorce in the future. Often, postnuptial agreements establish the division of property should one spouse die. Further, it is not unusual for a spouse to use a postnuptial agreement to ensure a child from another marriage inherits upon their passing.
Couples can have varying reasons for entering into a postnuptial agreement during the course of their marriage. While it is a common assumption that these agreements usually stem from a separation or near-divorce, that is not always the case. If a couple is considering signing a postnuptial agreement for any reason, they should contact a Hamilton County attorney as soon as possible.
In some situations, couples who have already decided to divorce use a postnuptial agreement as a mechanism to streamline the process. If the couple reaches an agreement on issues such as spousal support or property division, they could use the contract to greatly simplify the divorce process.
There are times when postnuptial agreements are not about assets. Instead, these agreements could result from one spouse incurring substantial debt during the marriage. Retaining local legal counsel to draft a postnuptial agreement in this situation could free the spouse who is uninvolved in the debt from financial accountability.
If the circumstances of your marriage have changed, a postnuptial agreement might provide you with the peace of mind you have been missing. Addressing the factors surrounding a potential divorce ahead of time could ensure both spouses are treated fairly.
If you have any questions about the process, contact a Hamilton County postnuptial agreements lawyer today to learn more.