A postnuptial agreement is an important legal document that can help any newly married couple protect themselves should they wind up filing for divorce. This document is often created when the couple fails to create a prenuptial agreement prior to getting married. Today, we will take a look at postnuptial agreements and their impact on the division of property.
One of the most important reasons to create a postnuptial agreement is if your spouse has incurred a large amount of debt since the marriage began. This can be through school loans, auto loans or individual credit card debt. The postnuptial agreement can make sure that you are not on the hook for this debt if and when you file for divorce.
Once the postnuptial agreement is in place, it must be enforced should you file for divorce. This means that any terms agreed upon in the document must be followed while going through divorce. You will not be able to change your mind when you file for divorce. Instead, the property must be divided per the instructions in the postnuptial agreement.
You can discuss all types of assets, debt and other property in a postnuptial agreement so long as these items were obtained legally, and you are not trying to do anything illegal with them or the document.
Postnuptial agreements can make it abundantly clear how property is to be divided should a couple file for divorce. This document does not have to be accompanied by a prenuptial agreement in order for it to be considered valid. Make sure you protect yourself, your assets and the rest of your property by creating a postnuptial agreement.
