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A marriage has many implications. It’s not only a joyous union of two souls. It is also a legal contract with certain obligations that both parties must follow. One way to spell this out better is to make sure that each party understands what is required of them in the event that the marriage does not work out. This can be done before people get married via what is known as a prenuptial agreement. It can also be done after the couple get married. A postnuptial agreement is a legal contract that many married couples find to be highly useful. It allows both parties to understand exactly what will happen if they get divorced. This document can be a highly specific one that enables all those party to the marriage to understand their rights and responsibilities if the marriage does not work out. Working with an effective Queens lawyer to craft a postnuptial agreement has many useful advantages.
One of the many advantages of this kind of arrangement is that all is made known to the other partner. The requirements for an enforceable postnup can very from district to district. At the same time, most postnups must meet certain conditions. This is true in queens. Each party to the agreement needs to make sure the other person has full understanding of how much money they are bringing to the table. This should include any and all assets. One party may have an apartment that generates rental income. The other party to the marriage is entitled under law to know about this apartment and how much it provides in yearly income to their spouse. This is also true of other forms of income such as the person’s salary and any other forms of investment. If this is not disclosed in advance during the postnup agreement, this can invalidate the agreement. Other conditions also apply. Each party in the marriage has to agree to the terms. One party can’t force the other party to agree to the terms against their will. For example, one member of the party can’t tell the other to sign or they will reduce their chances of child custody if there is a divorce. The agreement needs to crafted so that both parties to it are evenly matched and allowed to walk away with a document that protects what they bring to the marriage and any assets that are accumulated once the marriage continues.
Hammering it all Out
Once the parties have decided that this kind of document is in order, it’s best to begin the process of creating it as soon as possible. Each person should have their own legal counsel. The opposing legal counsel will accurately represent each party to the marriage in the agreement. They will let the other party know what is expected of them during the agreement. For example, they will explain what each line of the agreement means before it is signed. A lawyer can translate any legal language into language that everyone involved can understand well. They can point out specific clauses that can be included to make sure the agreement is enforced in the person’s favor and make sure that such clauses are legally allowed under New York state law. The lawyer can also contest any possibly contentious issues that may arise during the process. People can have a happy marriage but still have issues that may exist between them that happen as the agreement is being signed. The lawyer can act as the person’s representative and avoid personal and unpleasant issues that might lead to potential marital conflicts.
An agreement of this kind allows both parties to move forward in the marriage with great confidence. They know what is expected of them if things aren’t going well. A postnup can also be changed as needed if things change between the two parties. One or more parties can request a change to the document. This may require the lawyer to contact both parties and rework the document to account for any needed changes. All partners should consider doing this in the event of certain changes in their lives. For example, after the birth of a first child is often a good time to rework the document in order to make sure that child is provided for in the event of a divorce. This kind of flexibility makes any marriage exist on a firm foundation of mutual trust and true respect.
When a couple divorces, state law may determine how property is divided and how child custody issues may be resolved. However, there are ways in which individuals can exercise a higher degree of control over what happens in the event that they go through a divorce. Ideally, a couple will discuss a prenuptial agreement, but if one is not created, it may be possible to craft a postnuptial agreement to resolve a divorce proceeding in a timely manner. One of our Queens County divorce attorneys can help create one.
What Is a Postnuptial Agreement?
A postnuptial agreement is similar to a prenuptial agreement in the sense that it determines what happens to property and may also determine if either person gets spousal support. If a couple has children, it can also be used to determine child custody issues as well as determine how much support may be given to the custodial parent.
Postnuptial Agreements Can Be Broad or Specific
In some cases, a couple is only able to agree on specific issues such as how property is divided or if either party to the marriage is eligible for spousal support. However, other issues that the couple cannot agree on by themselves or with the help of a mediator may still need to be decided in court. Even if a postnuptial agreement only applies to one or two outstanding issues, it may still be an effective way to settle a divorce faster as well as to keep legal costs down.
How Do You Create a Valid Agreement?
It is important that a postnuptial agreement is reviewed by an attorney before it is signed by both parties to the marriage. It is also important that both sides have ample time to review and make changes to the document before signing it. If there are signs that one party was forced to accept the agreement against his or her will, it could be voided by a judge. It may also be voided by a judge if the terms don’t conform to state law or don’t come close enough to guidelines established by law.
Is a Postnuptial Agreement Legally Binding?
Not all states accept the legality of a postnuptial agreement. This may be important if you have property in multiple states that needs to be covered under such an agreement. However, most judges are loathe to overturn an agreement that both sides accepted assuming that they are of sound mind and of legal age when entering into it. Therefore, from a practical standpoint, such an agreement may be considered legally binding unless a judge says otherwise.
How Far In Advance Should This Document Be Created?
When creating a prenuptial agreement, legal experts believe that you should write it at least six months before the marriage. When it comes to a postnuptial agreement, you should write it as soon as you think that there is a need for it. In some cases, this may be days or weeks after the marriage becomes official. For others, it may be necessary to create it years into the marriage or just prior to starting the divorce process.
How Much Does it Cost to Create a Postnuptial Agreement?
The cost to create such an agreement depends on several variables. First, you have to determine whether you will create it on your own or with the help of an attorney. You should also consider whether you will get it notarized as this may increase the cost of creating and finalizing your agreement.
How Can an Attorney Help Create a Postnuptial Agreement?
An attorney may be helpful in creating a postnuptial agreement in a variety of ways. First, he or she may be able to craft an agreement that meets the specific needs of the individual. For instance, those who wish to retain ownership of their business may have a document written that reflects that desire.
An attorney may also be able to negotiate on behalf of an individual when it comes to creating an agreement that both parties to the marriage will be able to live with. For instance, an attorney may propose that his or her client retains ownership of a business in exchange for larger spousal support payments.
Finally, legal counsel may be able to help review any agreement that has already been created. This is important because such an agreement may not be valid even if both sides agree to it. An attorney will make sure that it is your best interests to sign the agreement and that it would be considered legally binding by a court.
A postnuptial agreement may be ideal for those who wish to preserve property rights or have more say over their divorce settlement. In most cases, it takes less time and costs less money to create a postnuptial agreement compared to a formal divorce settlement. Furthermore, it may allow both sides to end the relationship in a mature and amicable fashion.