
When you and your spouse tie the knot, various elements of your lives will become intertwined from where you reside and your name to your finances and children. As your marriage progresses, financial matters may become much more complex, prompting you to explore your legal options. In such cases, you may consider establishing a postnuptial agreement. If you are unsure about the nature of this legal document or the factors that make one legally binding, please continue reading to delve deeper into this topic and contact a trusted Suffolk County Prenuptial Agreement Attorney who can help ensure this document is deemed valid in New York.
What is a Postnuptial Agreement?
Generally, when a couple decides to spend the rest of their lives together they may consider the legal avenues available for protecting their hard-earned assets. A prenuptial and a postnuptial agreement are both contracts that outline how a couple will divide their assets and financial responsibilities in the event of a divorce. However, a prenuptial agreement is signed before marriage whereas a postnuptial agreement is signed after.
Although it may be a tough discussion, it’s essential to consider establishing a postnuptial agreement because it can protect assets obtained during the marriage that constitute marital property. It allows couples to dictate what assets will remain separate during the property division process. There are various benefits to establishing this document, including ensuring that the person who is responsible for any debt accumulated during the marriage will remain responsible during the divorce.
What Makes This Document Legally Binding?
When establishing a postnuptial agreement, it’s crucial to adhere to the strict requirements that render this document legally enforceable. For this contract to be deemed valid, both parties must willingly enter the agreement. If a judge has any reasons to suspect one party was coerced into signing a postnuptial agreement, the terms will not be legally binding.
In addition, the courts will evaluate how fair the agreement is to both parties. If the agreement outlines terms that seem to favor one spouse, leaving the other with practically nothing, the court will likely render it invalid. As such, it’s vital to ensure your assets are divided in a just manner.
Furthermore, a postnuptial agreement will not be considered if it includes terms regarding child custody and support. This is because the court follows the best interest of a child standard. The court prioritizes the physical, emotional, and mental well-being of a child. Therefore, the court will consider the best arrangement for the child rather than what the parents desire.
The most effective way to ensure a postnuptial agreement is valid is to connect with a seasoned attorney from The Law Offices of Susan A. Kassel, PC when creating this contract. Connect with us today to learn how we can guide you through these complex matters.