Have you been married a while and just inherited a ton of money? Well, you might need a postnuptial agreement.
Hi, I’m Marie Drake, The Drake Law Firm, and today I’m gonna to talk to you about why you might want to get that post nuptial agreement. You’ve probably heard of prenuptial agreements, almost everybody has, but what is a post nuptial agreement? Well, post means after, and that just means you make a marital agreement after you’re married. The marital agreement is going to contain what you’re going to do with your assets, whether they’re going to be considered separate, and whether or not you’re going to have joint accounts. It can lay out everything. Basically, it’s a plan for what happens in the event of a divorce.
What can a postnuptial agreement be used for? Well, it can be used to make decisions not just about your assets, but about say a pet, for example. If one person in the marriage is more bonded to the pet, a decision can be made preemptively about who gets the pet in the event of divorce. In addition, you can make decisions about spousal maintenance, that’s spousal support. You can agree that neither of you are going to ever go after it in the event of a divorce or that it will be a certain amount given the length of the marriage for a certain term. So there’s a lot of things that can be decided in a post nuptial agreement, and that’s just a few of them.
I also need to tell you what a postnuptial agreement is not. For example, a postnuptial agreement can’t contain any information about the children in terms of custody or child support. Why? Because courts always keep jurisdiction over minor children. That’s just a law, and you can’t put child support in a postnuptial agreement. It’s just not enforceable. So why would someone get a post nuptial agreement? Well, they would get one if they wanted to, for example, protect business assets, or if there’s been an inheritance and they want to make sure that that’s not somehow commingled with marital funds, and they want to protect it in the event of a divorce. Or maybe they want to lay out a roadmap for spousal support or agree that there will be no spousal support. So there’s a number of reasons to get a postnuptial agreement and those are just a few.
Wondering if you’re still needing a post nuptial agreement. Well, you’re still watching this video. So why don’t you give us a call? We’re standing by and happy to answer your questions about postnups.