As in the case of a marriage, a post-uptial agreement can ensure that the interests of both spouses are protected in the event of divorce. Prenuptials and post-nuptials allow spouses, rather than a judge, to make major decisions regarding the distribution of matrimonial property and the protection of property. Post-ascending agreements may also indicate who is responsible for certain debts such as credit cards or student loans after a divorce. The main reason why most people establish a post-uptial arrangement is to put on how their marital assets and debt are distributed when they divorce or when a spouse dies. For example, if you inherited a house from your grandmother before marrying your spouse, your post-uptial arrangement may stipulate that you will keep that house after the divorce. Conversely, if you have entered into the marriage with large credit card debts, the contract may provide that you are solely responsible for repaying these remaining debts after the end of the marriage. If one of you creates a successful business during the marriage, you can indicate that the business is yours if you and your spouse separate. You can also decide what to do with your home, cars and investment accounts as well as your mortgage and other debts. A few months after their wedding in 2016, the couple Krista and Ben of Pennsylvania have done something small, but more and more Americans are doing it: they have signed a post-marriage agreement. Krista came up with the idea.
« The hardest part was the little time between the idea that maybe we should have a marital contract and the conversation. In my head, I was scared – what if it was weird? She recalls. « But Ben was great on board. » Post-nuptial agreements are a relatively new development under U.S. law. Prior to the 1970s, post-post-marriage agreements were generally unenforceable. Much of this was based on the idea that a couple became a unit at the time of their marriage and that one person or unit cannot reach an agreement with itself. There`s only one celebrity who should protect his wealth from a spouse, right? It`s not true. Pre-marital and post-marital agreements are becoming increasingly popular, as couples recognize, although diamonds are forever, a marriage perhaps not. A Postnup, also known as a marriage contract, is a legal agreement between spouses that determines the division of property. These include real estate, debt, jewellery, spos support, etc.
A post-uptial agreement looks like a marriage contract, except it will be signed after the marriage breakdown. But if you didn`t want you to have one before your wedding, why would you consider having one? Keep reading to find out. What do we do with Derimony? Several states have specific laws on how to manage assistance to dependants or spouses, so any agreement must take into account the state in which sped assistance could be granted. In some cases, spouses cannot waive their sped assistance rights. It should also be noted that marital assistance is generally granted when one spouse earns significantly less than the other or when a spouse abandons his or her own monetary activities to improve the budget. An example could be a spouse who agrees to stay at home to raise children or care for a sick parent during marriage. Assistance to spouses would be considered to help the party until they could self-generate their own income. The post-uptial agreement can be tailored to your specific needs and will generally address financial and property rights for each party in case the marriage ends. In the case of a post-nuptial agreement, it is imperative that all assets be fully disclosed.
If all assets are not disclosed, the document may become void.