Married couples sometimes need to recalibrate their financial relationship. Developments in their lives could spur them to rethink how they handle their joint assets or require one of the spouses to seek more financial protection. Sometimes the couple has a prenuptial agreement that is not appropriate for their current circumstances.
Couples could create a postnuptial agreement to address any of these issues and more. A knowledgeable marital contracts attorney could explain the legal and financial implications of their decisions and help them formalize the agreement into a written contract.
Contact a Lincoln County postnuptial agreements lawyer if you and your spouse are considering entering into a contract with each other. A local attorney could revise your prenup or help you draft a written agreement making new commitments to each other.
Postnuptial agreements are useful for dealing with unanticipated circumstances that might arise during a marriage. For example, the birth of a disabled child or grandchild might prompt a couple to write a postnuptial agreement guaranteeing resources will be available for the child’s care.
A couple might enter a postnuptial agreement when one of them has assumed a significant financial liability. A postnup could protect the other spouse if one has a spending or gambling problem or risks a substantial judgment in a lawsuit. Under such circumstances, a couple should consult an experienced Lincoln County attorney to ensure the postnuptial agreement accomplishes their goals.
Couples sometimes enter postnuptial agreements if one party has committed misconduct. For example, if one party committed adultery but the couple intends to stay together, the unfaithful spouse might transfer money or property to the other spouse and agree to further penalties if they stray again.
Many couples enter prenuptial agreements before marrying. According to the Kansas Revised Statutes § 23-2404, a prenuptial agreement remains in effect unless a couple decides to override, modify, or invalidate it in writing.
A postnuptial agreement could replace a prenuptial agreement that has become unworkable, unfair, or stale. A couple could address any issues the prenuptial agreement covered and add any others that are relevant.
A diligent legal professional in Lincoln County could include language in the postnuptial agreement saying that both parties intend it to replace the prenup. Doing so helps limit the opportunities for one party to try to enforce the prenuptial agreement if they later divorce.
Many married couples use postnuptial agreements to divide property and establish spousal support when they plan a legal separation or divorce. Deciding on property division and spousal support before separating allows the couple to determine these issues rather than leaving them up to the judge.
The judge will incorporate a postnuptial agreement made in anticipation of ending the marriage into the divorce or separate maintenance decree if the agreement is valid, just, and equitable. A contract is valid if it is in writing, signed by the parties, and made without fraud or under duress. If the agreement strongly favors one party over the other, the judge might question whether it is equitable or just.
Postnuptial agreements do not have to divide property 50/50; lopsided splits are common. But there must be some advantage to the party giving up their rights for an unbalanced agreement to be equitable and just. A seasoned postnuptial agreements lawyer in Lincoln County could draft the contract to clarify that both parties benefit even if one party receives the bulk of the couple’s property.
Postnuptial agreements are appropriate and effective in various situations. They could be the solution anytime a couple desires to make legally binding commitments to each other.
However, these contracts are often complex and require skillful drafting to ensure they are enforceable. Make an appointment to discuss your situation with a Lincoln County postnuptial agreements lawyer today.