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A postnuptial agreement is a tool that not only clarifies rights and duties during marriage but also sets up a plan to manage, protect, and define those rights and duties in case of divorce. Even if divorce never happens, creating a postnuptial agreement offers peace of mind during your marriage knowing that your future finances are secure if things change.
What Is a Postnuptial Agreement?
A postnuptial agreement is an agreement signed by both spouses during their marriage. It outlines your respective rights and obligations during the marriage and in the event of divorce or death. This may include arrangements regarding asset division, how your children will be cared for, and other things that are important to you.
By creating a postnuptial agreement, you can avoid potential conflicts in the future and gain financial and emotional stability. These agreements are tailored to protect what matters most to you, providing confidence and clarity in uncertain times.
Why Do Couples Sign Postnuptial Agreements?
Postnuptial agreements are usually created during times of change in a marriage or when finances shift. Common reasons for postnuptial agreements:
- Situations where a prenup was discussed but never finalized
- Trust issues have arisen from some sort of emotional, physical, or financial betrayal
- One spouse received a substantial inheritance or gift
- There is a perceived unfairness in the current financial arrangement
It's important to know that making and signing a postnuptial agreement does not imply a plan for divorce. Instead, it lets couples reaffirm their commitment to the marriage while sorting out their current and future rights and responsibilities. Also, when postnuptial agreements are negotiated in a non-adversarial way, it helps a couple learn better communication and conflict-resolution skills that can improve their marriage.
FAQs about Postnuptial Agreements
We understand that postnuptial agreements raise many questions. Here are some frequently asked questions about postnuptial agreements:
- Should I Get a Postnuptial Agreement? If ongoing conflicts or changes in financial or emotional circumstances are causing stress in your marriage, a postnuptial agreement may be beneficial.
- Will a Postnuptial Agreement Hurt My Marriage? Broaching the topic of a postnuptial agreement with your spouse can be sensitive, but it doesn't have to lead your spouse to believe you’re planning for divorce. With the guidance of experienced attorneys or mediators, discussing your concerns and priorities can lead to greater security and reduced conflict in the marriage.
- How Long Does It Take to Make a Postnuptial Agreement? The timeline for creating a postnuptial agreement varies depending on individual circumstances, including the need for negotiation and any emotional complexities involved. Factors such as children may also affect the process.
- Should Both Parties Have Attorneys When Negotiating a Postnuptial Agreement? Even if you plan to use the mediation process to negotiate the terms of your postnup, we recommend that both spouses engage their own attorneys during the postnuptial agreement process to ensure fairness and understanding of rights and responsibilities. Our attorneys and mediators can assist in initiating discussions with your spouse and provide valuable resources to facilitate constructive communication.
Contact Vacca Family Law Group
At Vacca Family Law Group, we understand that every postnuptial agreement is unique and tailored to each client’s unique circumstances. Our experienced attorneys will work with you to create an agreement that meets your specific needs and provides the security you need. Contact us online or by calling (646) 502-8591 to schedule your free introductory call.