Getting married is one of the most exciting things that can happen in your life, but maintaining that marriage takes hard work.
Helpful Postnuptial Agreements
A postnuptial agreement is a tool to help maintain the marriage because addresses different topics that have been affecting your marriage negatively.
These include helping outline expectations about family assets, finances and other issues during the marriage and in the event of a divorce. Some of the things found in a postnuptial agreement include:
- Directions on how property will be divided if the parties separate or divorce
- The person who will manage the property and how that person will manage the property after separation or divorce
- Spousal support expectations
- Management of family business during the marriage and in the event of death or divorce
- How funds and assets will be distributed to children from another marriage after death or divorce
- Other financial issues
A postnuptial agreement must be in writing and must be signed by both parties for it to be effective. It must also be enforceable without consideration.
Consult a resourceful Family Law attorney for guidance on how to obtain a postnuptial agreement.
Challenging the Agreement
You need to consider a situation in the future where your spouse may decide to challenge the postmarital agreement during a divorce. These kinds of cases can go to trial and it will be up to the jury to decide whether the agreement is valid or not. To determine the validity of the agreement the jury is guided by the following factors:
- Spouses can divide their community property that they currently have and that they will acquire in the future as they wish
- Any property or property interest transferred to a spouse by a partition or exchange agreement becomes that spouse’s separate property
- The partition or exchange agreement has to be in writing and must be signed by both parties
Challenging the Agreement At Trial
You can only make the agreement unenforceable by proving that you signed the agreement involuntarily. The agreement is also unenforceable if you prove that before the agreement was executed, your spouse did not disclose all the necessary information about your spouse’s finances and property.
However, this will only make the agreement unenforceable if you did not waive in writing, any right to that disclosure of finances and property of your spouse.
You must also have had no way of knowing of the property and the finances of your spouse. This is the reason why there should be a disclosure of the financial assets or a waiver before the agreement is signed, and the agreement needs to be in writing.
What Is Community Property?
The property acquired during the marriage is regarded as community property by the law.
However, property that was acquired before the date of the marriage, or properties acquired by gift or inheritance during marriage are separate properties.
A postnuptial agreement is meant to protect all these properties, which will make the couple feel more secure and be happier in their marriage.