Postnuptial Agreements – What You Need to Know
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A postnuptial agreement is a legal document that explains and designates how property will be divided in the event of a divorce. It is very similar to a premarital (or pre-nuptial) agreement, except a premarital agreement is signed prior to the marriage and a postnuptial agreement is signed after the marriage has already occurred. While a post-nuptial agreement is enforceable if properly executed, there is often a “dark cloud” over post-nuptial agreements. whereas they are more easily overturned than a premarital agreement, especially if there are assets that have been comingled already during the marriage or received during the marriage. Any income earned during a couple's marriage and any property or money accumulated during a marriage is presumed to be marital property unless otherwise allocated (such as in a premarital agreement ). Once the money or property is considered marital in nature, someone agreeing to waive their right to something that...