Many people have heard of prenuptial agreements. They are marital contracts signed before a couple walks down the aisle that protect each party’s interests and assets in the event that the marriage fails. Those agreements make sense to a lot of people. But what about postnuptial agreements?
It is normal for people to have questions about postnuptial agreements because they are not as common as premarital contracts. Some questions you might have include: What is a postnuptial agreement for? Does it really do any good? Are these agreements deemed valid in the state of Florida?
What is it for?
There are a few reasons a married couple might consider creating a postnuptial agreement. Some of them include:
- Either spouse experienced a change in financial status after getting married
- Marital issues exist that need addressing in order to promote harmony in the relationship
- One or both spouses want to control the other’s behavior by forming a lifestyle agreement
In other words, these agreements are for a number of circumstances. If something changed in your marriage and you think such an agreement might be what you need, it is okay to seek counsel on the matter.
Do they work?
A contract only works if both parties are willing to abide by its terms. Yes, postnuptial agreements can work — if each spouse is willing to make it work.
What about their validity?
No one wants to spend the time or money creating a contract that the state of Florida will not deem valid. In this state, postnuptial agreements are valid if:
- The agreement terms are fair to both spouses
- No parties were under duress during the signing of the agreement
- No assets excluded or hidden when creating the contract
So, this is not a contract that one spouse can write and force upon the other. Its purpose is not to deceive the other spouse. Its terms cannot be unreasonable.
Think it would work for you?
If you and your spouse are considering a postnuptial agreement, each party should retain their own legal counsel before starting the negotiations process. That way, each spouse has someone on their side to help them protect their interests. This also helps ensure validity, as each party will have had assistance negotiating a fair contract that is in line with Florida laws.