What is a postnuptial agreement? (create one in 5 steps)
Prenuptial agreements are well-known, but many people are unaware that postnuptial agreements are a related category of legal agreement. However, couples may use a post-nuptial agreement as a guarantee to safeguard their interests in the event of divorce. If there is a postnuptial agreement legally binding, there will be no issue of property sharing in the event of divorce or death.
Prenuptial and postnuptial agreements typically contain the same kinds of clauses. The main difference is that prenuptial agreements are signed before marriage, whereas postnuptial agreements are signed after legal marriage. In order for you to understand these issues in more detail, we have prepared content about post-marriage contracts in this article.
What is a postnuptial agreement?
A postnuptial agreement is a written agreement created by two partners after marriage while they are committed to each other. Spouses use this agreement to specify how their assets and duties will be divided in the case of a divorce or separation. If you make this agreement, you will be protected from expensive court proceedings in the future. We can list the other advantages that the post-marriage agreement will provide you as follows:
1 - Protecting you from a complex divorce
Typically, a postnuptial agreement lays out many of the topics that many couples debate while deciding how to separate. As a result, both spouses will be aware of the exact property division once the divorce is finalized and when such a contract is made before the start of the divorce process. This can spare a divorcing couple a lot of needless conflict and suffering.
2 - You can save your marriage
While this may seem counterintuitive to some, making a postnuptial agreement can save the marriage rather than weaken it. Making a postnuptial agreement can help spouses identify problems and resolve them effectively. Thus, they can leave their destructive behaviors aside and continue the marriage.
3 - Encouraging spouses to communicate
It can be challenging to discuss complicated financial topics like debt, inheritance, and property distribution. Making a postnuptial agreement requires both partners to sit down, talk, negotiate and cooperate with each other. Thus, it also facilitates your communication.
Postnuptial agreement vs. prenuptial agreement
Prenuptial agreements are legally binding contracts formed by two partners before marriage. On the other hand, postnuptial agreements are legally binding contracts formed by two partners while they are married. They are written during marriage when couples want more disclosure on financial matters. Generally, prenuptial and postnuptial agreements are detailed records of how property and assets should be shared in the event of divorce. Contracts cover topics including income, debt, personal legacies, joint purchases, and more.
How to create an online postnuptial agreement
Since postnuptial agreements differ from legal and enforceable agreements, they vary from state to state and country to country. These agreements are made to facilitate the division of property during divorce. You can easily create your agreement form with the post-nuptial agreement template that forms.app provides. Let's look at these steps now.
- Step 1. Choose a postnuptial agreement template from the template library.
- Step 2. Add form fields for agreement terms.
- Step 3. You can customize your form if you want your marriage contract to be unique to you.
- Step 4. Add an electronic signature field.
- Step 5. Add terms and conditions. In this way, you can prevent future problems and eliminate uncertainties.
- Step 6. Make final edits and preview your form.
- Step 7. Your contract is ready to share. You can share it as you wish using the form link.
An example client form for postnuptial agreement
Similar to a pre-marriage agreement, a post-marriage agreement describes the conditions of a potential divorce or separation. Preparing such an important document requires professionalism. You can do this with the free templates from forms.app, too. The example below will help you gather the necessary information to draft an agreement for your clients.
Postnuptial agreement for business
When starting a new business, you need to protect your company's finances. This may require you to sign a postnuptial agreement with your spouse. This is to prevent your spouse from claiming any part of the business in the event of a divorce. It will be better to make this deal in order to prevent him/her from taking more shares than necessary. In this way, you will eliminate future uncertainties.
What does it cost to get a postnuptial agreement?
Post-nuptial agreement fees vary from country to country, from state to state. They may offer a flat fee if you will receive consulting assistance from a lawyer in drafting the contract. Or it can reach amounts in excess of $500 an hour. Note that this is just a consulting fee. Average fees for the contract can range from $1,000 to $3,000. Complex contracts can start at around $10,000. You may experience this if you have substantial assets or present serious conditions.
But with forms.app you can quickly draw up a contract completely free of charge. Or use forms to collect information for your contracts if you run a law firm. forms.app' professional team helps you to prepare a legal document without any problems. Choose a template now to quickly create your form without worrying about how to make a deal with the many features it offers you. Now you too can experience forms.app with its excellent designs.
