This year’s isolation and stress have been difficult, and many couples began taking steps to end their marriages. Before you begin investing time, money and effort in seeking a divorce, however, you can plan what happens by entering a postnuptial agreement. This will give you time to try to fix your relationship while drafting a plan on how you and your spouse will get divorced.
What is does
A postnuptial agreement is a private agreement among the spouses after they marry. Because marriage also involves a business relationship, it allows couples to develop a financial plan and negotiate divorce property issues with less stress and expense. Both spouses must sign the agreement and it should be properly executed.
A postnuptial agreement, however, may not address child custody issues. It cannot have financial incentives for a spouse to leave their marriage.
Reconciliation
Reconciliation and trying to resolve a problem are reasons to execute a postnuptial agreement. Problems may typically involve an extramarital affair, wasteful spending or a drug, alcohol, or gambling addiction. It provides an opportunity to resolve differences, seek solutions and get back together without financial or legal penalties.
The agreement can contain terms requiring personal responsibility. It may address what happens if unacceptable behavior occurs again and how the couple will deal with money and assets in their divorce.
Premarital agreement changes
Spouses may also change a prenuptial agreement they entered before their marriage. A postnuptial agreement can deal with major changes occurring since their wedding.
Postnups is one method that covers new ways couples want to deal with their property. It may restore spousal support or change property division because of a changing financial situation or changes in a spouse’s employment. A spouse may want to keep an inheritance as their own property if they ever divorce.
New business arrangements
Postnuptial agreements are also used when a spouse begins a new business and does not want the other spouse’s involvement in its financial decisions. It may be used to extinguish a spouse’s claim to the business if they ever end their marriage. It can provide assurances to business partners that a partner’s spouse will not obtain a business interest if there is a divorce or that spouse dies.
An attorney can help spouse prepare a fair and reasonable agreement. Legal representation may also assure that Florida’s legal requirements are met.
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