When a Florida couple gets married, they are not thinking about what will happen in the future if they divorce. Most people enter a marriage thinking they will be together long-term, but statistics indicate that this is not true for about half of all marriages. For this reason, many couples choose to draft a prenuptial agreement before they walk down the aisle.
If you did not draft a prenuptial agreement before you married, you still have an option by which you can protect your legal and financial interests. A postnuptial agreement can offer you many of the same benefits you will find with a prenuptial agreement. Both of these documents allow you to decide how you will want to approach the property division process in case of a divorce in the future.
Make the future less complicated
No one can predict the future, but it is always smart to prepare and plan as much as possible. Drafting a postnuptial agreement does not mean that you assume your marriage will end at some point in the future. It simply means that you are taking steps to make the future less complicated in case of an unexpected situation.
A prenuptial agreement is drafted before a couple marries, and a postnuptial agreement is drafted after the wedding. This may be beneficial for your situation if your financial circumstances have changed dramatically since you married or you didn’t really think about the protections you may need before you walked down the aisle. Through a postnup, you can accomplish the following things:
- You want to protect the inheritance rights of children you have from a previous marriage.
- You want to protect yourself from debt incurred by the other spouse or poor financial decisions he or she has made.
- You or your spouse decides to stay home with your children while the other spouse works full-time.
- You and your spouse want to define separate assets and make smart financial decisions for the future.
In order to be valid, your postnuptial agreement must be in writing, and both parties must have time to read and review the terms before signing. In order to ensure that the provisions are clear and your agreement is enforceable, you may find it beneficial to have an experienced attorney assist as you draft your agreement and before you sign it. You may also want to discuss how this type of legal protection can be beneficial for couples of all income levels.