A postnuptial agreement is a marital contract that some couples enter after they get married to ensure the preservation of their respective assets and address other concerns. A Saratoga Springs postnuptial agreements lawyer could help you draft one of these documents and explain the extent of your rights and responsibilities under this marital contract. A knowledgeable marital agreements attorney could also help you understand the potential advantages and disadvantages of a postnup given the facts of your situation, and help you determine the most suitable course of action for your financial needs.
There are several key factors that a postnuptial agreement must meet if it is to be valid and enforceable in court. Primarily, it should detail the full extent of the property owned by both parties in the marriage. If one party fails to disclose some of their assets, this could result in a judge invalidating the agreement if the couple decides to divorce. Additionally, a valid agreement needs to be documented in written form and signed by both parties.
An agreement is not enforceable if one or both parties is under the influence of deception or constraint. If one party forces the other to sign the contract or pushes them to sign it without advice from their own attorney, this could cause a court to question the validity of the agreement later.
Equitability and fairness are vital elements of a postnuptial agreement. Generally, one party should not have to make all of the concessions, meaning that one side cannot be at a clear disadvantage. A competent legal professional in the area could help someone create a fair and enforceable postnuptial agreement.
There are a number of circumstances where it may be a good idea to talk with a Saratoga Springs attorney about preparing a postnuptial agreement. First and foremost, a post-marital agreement can help both parties outline their respective intentions, goals, and responsibilities for their debts and assets in the event that the couple decides to end the marriage. By outlining a roadmap for the division and distribution of assets, both parties could secure their personal assets while they are still on good terms and not have to fight for them later. A postnuptial agreement can also protect both parties from excessive liability and encourage an amicable resolution to any post-marital disputes.
The agreement allows the parties to define both their separate and marital property, and how they wish to distribute any shared debts or assets.
Creating a postnuptial agreement is not an expectation or prediction that your marriage will end in divorce. However, by preparing a postnup, you and your spouse can develop a plan in the event a change in your marital status occurs.
These contracts could also protect you from losing assets that you brought into the marriage or from being forced to take responsibility for debt that you had no part in accumulating. To discuss your questions and concerns about these arrangements, call our office and ask to speak with a Saratoga Springs postnuptial agreements lawyer.
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