What is a Postnuptial Agreement?

No couple ever wants to think about getting a divorce, especially at the time they are getting married. This is why many couples will not draft a prenuptial agreement before doing so. However, this can be to their detriment, as without a prenuptial agreement, their assets may become subject to equitable distribution.

Fortunately, if you are married and have not drafted a prenuptial agreement, you may still draft a postnuptial agreement. Though postnuptial agreements simply serve the same function as prenuptial agreements, they can be difficult to approach your spouse about. This is why you must openly and honestly communicate your reasoning for requesting one. Just because you want a postnuptial agreement does not mean you are planning on getting a divorce, and you must ensure your spouse understands this.

That being said, postnuptial agreements can be a great way to protect your assets and attain the peace of mind you and your spouse may need to sleep soundly at night. If this sounds like something that may work for you and your spouse, here are some of the questions you may have:

What issues can be addressed in a postnuptial agreement?’

Spouses are happy to learn that they may address essentially all aspects of their financial situations in a postnuptial agreement Just a few of the most commonly addressed issues and assets in postnuptial agreements are as follows:

  • What will happen with property owned or bought before their marriage
  • Define what will happen with child support payments in the event of a divorce
  • Define how any spousal support or alimony payments will work
  • Protect certain recently acquired assets, such as inheritances, lottery winnings, and more
  • Request financial support for working less to care for children
  • Establishing the transfer of assets, should one spouse die before the other

What makes a postnuptial agreement valid?

Rather obviously, if your postnuptial agreement is not valid, it is not legally enforceable, and therefore virtually worthless. The qualifications for a valid postnuptial agreement are as follows:

  • The prenuptial agreement is in writing
  • Each party’s assets and financial situation is completely and accurately disclosed in the agreement
  • There is no evidence of manipulation or coercion
  • Both spouses have enough time to make a logical and informed decision regarding the agreement’s terms
  • Each party either retains legal counsel or waives their right to counsel
  • The postnuptial agreement is fair and reasonable to both parties.

Contact our experienced Massachusetts firm

If you require compassionate and knowledgeable legal guidance for a matter of divorce, family or estate law, please do not hesitate to contact the experienced attorneys at the Law Offices of Cynthia L. Hanley today. We recognize the impact a divorce can have on the lives of you or your children, which is why our firm proudly serves clients in Mansfield, Massachusetts and throughout Bristol County.