What Is a Postnuptial Agreement?
A postnuptial agreement is a contract between spouses after entering into marriage. The agreement describes terms to maintain separate property outside of marital property.
During divorce proceedings, the court will determine how to divide marital property and debts. However, with a valid postnuptial agreement, you and your spouse can agree to which separate property you each would retain. A postnuptial agreement can also shorten the length of divorce proceedings while reducing related costs.
However, it is important to understand a postnuptial agreement is primarily a method to plan for contingencies in a way that is respectful of both spouses, and it does not necessarily foreshadow disagreements or divorce.
If you and your spouse need a postnup, turn to an experienced postnuptial lawyer in our office at Miami Family Law Group, PLLC in Miami, FL. We provide representation for family law matters including divorce, child custody, high-asset divorce cases, and more.
Why Do Couples Sign a Postnuptial Agreement in Florida?
Many reasons exist for a married couple to consider a postnuptial agreement. Some examples of common scenarios that may lead a couple to consider a postnuptial agreement include:
- You or your spouse received a large inheritance.
- You or your spouse wants to open a business or take over a family business.
- You or your spouse incurred a large debt for which the other should not be responsible.
- You or your spouse left a career to be a stay-at-home parent.
To explore how a postnuptial agreement may help you and your spouse set expectations and mutual understanding in light of circumstances in your relationship, schedule a strategy session with Miami Family Law Group, PLLC today.
What to Include in a Postnuptial Agreement
You and your spouse should carefully consider what assets you each would like to maintain as separate property and how to divide marital property. Remember that the court will see property acquired together during the marriage as marital property, even if only titled under one spouse’s name.
If you or your spouse incurred a large debt during your marriage, such as in a failed or low ROI investment, you may also divide these debts according to which party incurred the debt.
You and your spouse may also decide to include terms for the event of a separation or divorce, such as who remains in the marital home and whether you will waive or limit spousal support (alimony). However, if you have children, you and your spouse cannot necessarily define terms for child custody or child support in a postnuptial agreement.
Creating a Valid Postnuptial Agreement
If you and your spouse are ready to create a postnup, a postnuptial agreement lawyer with our offices at Miami Family Law Group, PLLC can help you navigate the documentation to create a valid postnuptial agreement.
Your postnuptial agreement must be in writing, entered into willingly without duress or fraud, and must be fair to both parties. Both parties must also disclose all of their assets and debts. The court may invalidate your postnup if it finds that one party pressured the other to sign before having the opportunity to understand the terms, or if the agreement is “unconscionable,” meaning extremely unfair to one party.
You and your spouse will need to ensure that your postnuptial agreement meets all requirements for the court to consider it valid in case of a future separation or divorce. Our family law firm has over 30 years of combined experience helping couples navigate postnuptial agreements in Miami. Schedule a strategy session today.
