You have probably heard of a prenuptial agreement, but postnuptial agreements also exist. Like a prenup, a postnuptial agreement has to meet certain standards in order to be considered enforceable. Drafting an agreement that won’t stand up to legal scrutiny is just a waste of time. This is why you’ll want to consult a Peoria County family law attorney before drawing up one of these contracts.
When Would You Make a Postnuptial Agreement?
You would make a postnuptial agreement once it seems like divorce is inevitable. If you and your spouse are able to discuss important matters and negotiate in good faith, a postnup can be used to make the divorce process a bit easier. Such an agreement can:
- Speed up the divorce process
- Make it easier to protect your own property and assets
- Help you address what happens to a business owned by one or both spouses
- Prevent your former spouse from trying to claim any of your assets when you die
There are some matters that a postnuptial agreement is not meant to address, so some issues will have to be resolved in another way. A postnup can be a good way to deal with some important financial aspects of your divorce though.
What Makes a Postnuptial Agreement Legally Binding?
Writing up a postnuptial agreement won’t save you any time if it doesn’t meet legal standards though. In order to be enforceable, this document must be:
- Written
- Voluntary for both parties
- Fair to both parties
So if someone tries to force their spouse to sign an agreement or if the terms of the agreement are blatantly favorable to one spouse over the other, that postnup is likely to be thrown out. A postnup can also be unenforceable if anyone fails to disclose assets or if it tries to address matters that should not be a part of this agreement, which we’ll talk about more in a second.
What Cannot Be Addressed Through This Agreement?
Like a prenuptial agreement, a postnuptial agreement is primarily meant to handle financial issues. That means that trying to address some other issues can render a postnup unenforceable.
A good example of this would be a postnup that tried to set the terms of child support and custody agreements. This is not something that should be decided in a postnuptial agreement. The court needs to decide these kinds of things with the best interest of the child in mind. You do not get to set the terms in a postnup.
Contact Our Law Firm
If your marriage is coming to an end, a postnuptial agreement can make some parts of this process easier. Contact Butler, Giraudo & Meister, P.C. to schedule a consultation with our team and learn more about how to make such an agreement legally binding. Our experienced attorneys are ready to help you in this difficult time.
