There are many reasons for a couple to skip the prenuptial agreement before getting married. Perhaps neither of them owned any assets of significance then.
After the marriage, if one or both of them change their mind, perhaps because things have since changed, they could decide to enter into a Postnuptial Agreement.
The Postnuptial Agreement describes what is agreed upon between two spouses as to what will happen to joint and separate assets in the event of divorce or death.
The document has several essential applications. The first is to reconcile any earnings or debt differences between the two spouses. You can also use it to decide what will happen to properties and assets like business interests, real estate, and stocks. If the married couple has children from a previous marriage, the postnup can take care of the prenuptial children. A family court post-divorce will address custodial issues like custody of the children, visitation rights, and child support.
Depending on your state, a Postnuptial Agreement may also be known as:
Most commonly, a Postnuptial Agreement is only necessary if one of the spouses has an outsized estate (compared to the other spouse) that they would like to protect. It is also a way to protect your spouse's liabilities against any potential inheritance after a divorce.
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Postnuptial Agreements are legal in all states with differing enforcement rules. Apart from reasonableness and fairness, you must also include the necessary provisions according to your state of residence.
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After you print out the Postnuptial Agreement, read it carefully, and before you sign it, you might want to consult a lawyer if you are not sure about anything. Furthermore, a witness must be present at the signing, though notarization is optional.
The Postnuptial Agreement does not have to be filed with a court. Each of the two spouses should have their own copy for safekeeping and future reference.
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