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A prenuptial agreement is a legal written document between a couple intending to get married. It outlines what will happen if the couple divorces. A postnuptial agreement is also a legal written document. However, the agreement is between a married couple. The married couple tell each other about the property and money they currently own. This information includes both marital and separate property.
Marital property is property both spouses own. Separate property is typically owned by one spouse prior to marriage. In certain instances, it could be inherited during the marriage that is separately owned.
In New York, postnuptial agreements are enforceable if you and your spouse enter into the agreement with full disclosure and honest. Brooklyn divorce court will recognize a valid postnuptial agreement even if differs from how the court would normally divide property.
A Brooklyn Postnuptial Agreement Addresses Various Marriage Issues
A postnuptial agreement addresses many of the same issues a prenuptial agreement addresses such as:
• Separate Property: The agreement will define what property is considerate untouchable by the other spouse. This is usually the assets and property you bring into the marriage. The property must be keep in your name only. Any time separate property is placed in you and your spouse’s name, it may be deemed marital property.
• Marital Property: A postnuptial agreement permits you to identify the assets and property you and your spouse share. You can change separate property into marital property too.
• Child Support. A postnuptial agreement cannot resolve any child support, child support or child visitation issue. However, you can still address the issue. These issues are ultimately resolved by Brooklyn family court. It will look at the postnuptial agreement to determine if it fits with the best interest of the child. The best interest of the child standard is used in child custody cases.
• Establish Alimony. Alimony, or maintenance, is a monthly payment one spouse gives to another to support them after the divorce. A postnuptial agreement can establish what kind of financial support you or the other spouse will pay or if any alimony will be paid at all.
• Child Support for Prior Children. If you or your spouse have children from a prior relationship, you can address their financial support. In the agreement, you can determine whether they will be provided for after the divorce. This typically occurs in cases where a spouse does not adopt their spouse’s children.
• Pre-marital Debt. Some couples enter a marriage with substantial debts. It may be student loans or business loans. A postnuptial agreement can prevent you from paying on your spouse’s debts if there is a divorce.
Contact an Postnuptial Attorney Regarding Your Agreement with Your Spouse
It is vital for you to ensure your postnuptial agreement is enforceable. A lot of agreements are presumed enforceable until it is challenged in divorce court. Here are some reasons why a postnuptial would be invalidated:
• You or your spouse did not have separate attorneys. New York law requires each spouse has separate counsel to advise them of their rights.
• You or your spouse committed fraud. This means you or your spouse was not completely honest.
• You or your spouse was coerced. Coercion means you were persuaded to enter into the agreement.
• The agreement is unfair to one spouse. This means one of you gave up too much money or assets. The law prohibits one spouse from a lopsided agreement.
Contact us today. We will assist you with your prenuptial agreement.