What is a Postnup Agreement?
A postnuptial agreement is a legally binding contract between two married spouses that outlines the rights and responsibilities of each party in the event of a divorce or death. While it is similar to a prenuptial agreement, a postnuptial agreement is established during the marriage and typically contains provisions regarding the division of assets and liabilities, spousal support, and other financial matters that are not addressed in a prenup.
If you’re considering creating a postnuptial agreement, our Brandon family law attorneys at Carman, Bevington & Finegan, P.A., can assist you with drawing up an agreement tailored to your specific circumstances and needs.
What Does a Postnuptial Agreement Cover?
A postnuptial agreement can cover any number of topics, including but not limited to the following:
- The division of marital assets and liabilities in the event of a divorce or death;
- Alimony payments;
- Inheritance rights; and
- Other financial matters.
The exact provisions included in your postnuptial agreement will depend on your individual circumstances. It’s important to speak with an attorney who specializes in family law to discuss your particular needs.
Are Postnuptial Agreements Legally Binding?
Yes, a postnuptial agreement is considered legally binding if both parties sign it voluntarily without coercion or duress. Under Florida Statutes § 61.079, prenuptial agreements are considered valid when in writing and signed by both parties. The same requirements apply to postnup agreements.
Additionally, both parties must fully disclose all relevant information for it to be valid. If either spouse does not comply with these requirements, a court may choose not to enforce the terms outlined in the agreement.
Who Can Benefit From Creating a Postnuptial Agreement?
Postnuptial agreements benefit all types of couples, regardless of their marital status or financial situation. However, there are three categories of individuals who can benefit from creating a postnup agreement the most:
- Divorced individuals. For individuals who have gone through divorce proceedings, a postnuptial agreement can provide clarity on important issues such as alimony and the division of property. Additionally, couples who are planning to enter into a second marriage may find that a postnuptial agreement provides them with peace of mind knowing that their finances will be taken care of if the marriage does not last.
- Individuals with children from previous relationships. For individuals who already have children from previous relationships, it is especially important to consider creating a postnuptial agreement. With this document in place, both spouses can agree upon how assets should be distributed among any surviving children should one spouse pass away during the marriage.
- Couples who own businesses together. Finally, couples who own businesses together may find it beneficial to create a postnuptial agreement to avoid potential conflicts over ownership rights or profit-sharing arrangements should they separate. By having an agreement in place beforehand, both parties will know exactly what their interests are if they ever need to dissolve the business partnership at some point down the road.
If you are still unsure whether you can benefit from creating a postnup, consider speaking with a knowledgeable attorney.
Is It Necessary to Have an Attorney When Creating a Postnup?
It is strongly recommended that both spouses consult with an attorney before signing any legal document, such as a postnuptial agreement. Having an experienced family law attorney review your unique situation can help ensure that all terms are properly documented and that all parties involved know their rights under the law.
Contact Carman, Bevington & Finegan, P.A., for Legal Assistance
Creating a postnuptial agreement can benefit couples who want to protect their interests during their marriage. If you’re considering creating a postnup, contact our experienced family law attorneys at Carman, Bevington & Finegan, P.A., today for assistance navigating this complex process from start to finish. Reach out to our office in Brandon, FL, by calling 813-305-0682 to receive a free consultation.