Having a legal separation agreement is a sound way to protect yourself during your separation.…
If you are married and you start a business, come into an inheritance, or gain other assets, you may be concerned that you'll lose them should you and your spouse divorce. Fortunately, you can protect your assets, re-negotiate a prenuptial agreement, and even create a plan for spousal support after you and your spouse are married. To learn how to get a postnuptial agreement in NC, our divorce attorneys are sharing what you need to know.
What Is a Postnuptial Agreement?
You're most likely familiar with a prenuptial agreement in which both parties agree on property division, debt protection, and spousal support issues before they get married. This way, if the marriage ends in divorce, both parties are protected from losing premarital assets or being held accountable for the other's debt and the separation can go more smoothly.
A postnuptial agreement is similar. It's a legal contract that must be signed by both parties in front of a notary that lays out terms if the couple divorces. However, it lays out how assets and liabilities are divided upon divorce and is entered into while they are still married. Primarily, this addresses how property is divided in the event of a divorce that would otherwise fall under equitable distribution.
Postnups and Separation Agreements
Postnuptial agreements and separation agreements are also fairly similar. However, a separation agreement is entered into after the couple separates, intends to live apart permanently, and can include child support and custody arrangements. Postnuptial agreements are entered into while the couple is together and either maintaining the marriage or may reconcile in the future.
Requirements for a Postnuptial Agreement in North Carolina
Just like with a prenuptial agreement, a postnuptial agreement must be made with full disclosure regarding both party's financial situations. This includes retirement accounts, 401(k), business holdings, and also debts and ensures that both parties have a fair foundation upon which to agree on how it should be divided.
It's important to note that in a postnuptial agreement, alimony can be determined, but issues related to child support and child custody can not be outlined in the agreement. Also, the terms of the agreement can't be against "public policy." There isn't a clear charter outlining what contract terms may violate public policy, which is why having an experienced family law attorney draw up this contract can help ensure it's legal and valid.
When Should You Get a Postnuptial Agreement?
A postnuptial agreement can be beneficial to both parties in a wide range of situations. This includes:
- When one spouse starts a business
- When one spouse inherits money or property
- To protect children from a previous relationship
- Renegotiating a prenuptial agreement
- Couples who have separated but are considering reconciliation
- Preventing one party from having to pay the other's debts
A postnuptial agreement in North Carolina can be highly beneficial to both parties in a wide variety of circumstances. Working with an attorney to draft a fair, legal contract and signing it in front of a notary makes the process simple and free from complications.
Schedule a Consultation with a Family Law Attorney in Raleigh Today
At Doyle Law Group, we can help you draft a prenuptial agreement, postnuptial agreement, or separation agreement that will protect your best interests and help safeguard your future. To schedule a consultation, call (919) 301-8843 or complete the form below.