Whether you recently tied the knot or have been married for years, you can benefit from using a postnuptial contract (“postnup”) to define your and your spouse’s property rights in case of future divorce. Post-marital agreements allow you to control your income and assets if your marriage ends in divorce.
If you want to learn more about postnups, you should consult with a Cherokee County postnuptial agreements lawyer from our team. Our firm’s family law attorneys can assess your unique circumstances, determine whether a post-marital agreement would benefit you, and draft a legally binding contract on your behalf.
Postnuptial contracts are similar to prenuptial agreements, except that parties’ sign after they marry. A postnup outlines what assets you and your spouse would keep, how marital debts would be divided, and how much, if any at all, spousal support will be provided upon divorce. A Cherokee County family law judge may enforce a valid post-marital contract in a final divorce hearing.
There are many reasons why a couple may consider entering a postnup after getting married. A knowledgeable attorney in our area can assess your marital and financial circumstances to determine whether a postnuptial agreement is in your best interest.
If you receive a large inheritance, or a business venture generates substantial income, a well-drafted post-marital contract can delineate these assets as separate, non-marital property. By entering a postnup, a spouse who owned property before they married could prevent a judge from awarding the other spouse with interest in the property upon divorce.
A post-marital agreement may also allocate financial support for a spouse who stops working to stay home and care for the children, so they can provide for themselves if the marriage ends in divorce.
A postnup may be particularly useful if either spouse contributed to a premarital asset after getting married. For example, If your spouse owned a home before marriage, but you helped make improvements to it during your marriage, you may preserve your post-marital contributions in a legally binding postnuptial agreement.
Spouses who run a business may find it difficult to continue working together if their marriage is struggling. If they do not plan for who will assume responsibility of the company after a potential divorce, they may face litigation to sort out their respective business interests. A postnuptial contract could state which spouse would control the business in the event of a divorce and define the terms of a buyout of the other party’s interest in the company.
Couples with blended families may use a postnup to provide for their children from prior relationships. A valid post-marital agreement in Cherokee County could mandate that if one spouse passes away during the marriage, all or a portion of their assets will pass to their biological children rather than their spouse or stepchildren.
If you are interested in entering a post-marital contract but are unsure if it’s the right option for you, it may be beneficial to consult an attorney familiar with these matters. Our team is well-versed in the legal requirements for postnup contracts in Georgia. A Cherokee County prenuptial agreements lawyer can answer any questions you have about these contracts, so call today to learn more.