Divorce happens for many reasons; however, it is not necessary for either spouse to be financially devastated as a result. It is possible for spouses to develop a thorough financial plan in the event of death or divorce.
One way spouses can protect their financial future is through a postnuptial agreement. Spouses may enter into a postnuptial agreement at any time during the marriage. It is not necessary for either spouse to be considering divorce.
Similar to a prenuptial agreement, a postnuptial agreement is entered by two spouses during the marriage as a proactive measure for the following:
- Protection of assets in the event of divorce
- Provide for the distribution of property in the event of death of either party
- Address certain financial obligations of each party during the marriage (i.e. filing of taxes, paying for certain expenses, etc.)
For a postnuptial agreement to be valid and enforceable, it is important to consult an experienced family and divorce law attorney during the drafting process. Failure to consult an experienced attorney could possibly result in disputes and financial hardship later.
West Palm Beach Postnuptial Agreement Lawyers
The team of attorneys at Quality Family Law have years of experience helping families plan for the future by explaining all their legal options.
Quality Family Law handles all family law matters, including prenuptial agreements, postnuptial agreements, cohabitation agreements, child custody, child support, and guardianship.
Contact Quality Family Law at (561) 557-8686 or submit an online form for a confidential consultation. With partners on call 24/7, Quality Family Law is always here for you and your family’s needs.
Quality Family Law serves individuals and families throughout Palm Beach County, Florida, including Palm Beach, West Palm Beach, Boca Raton, Jupiter, and surrounding areas.
Postnuptial Agreements in Florida
A postnuptial agreement is a contract between two spouses, which provides for the division of assets and debt in the event of death or divorce. A postnuptial agreement may also stipulate the ownership of pets and financial responsibilities of each party. Like prenuptial agreements, postnuptial agreements do not govern any rights or obligations to children of the marriage.
Like any contract, a postnuptial agreement must conform to certain legal requirements to be valid and enforceable. The most important aspect of the postnuptial agreement is full financial disclosure.
A postnuptial agreement is a proactive way for spouses to divide property and debts in the event of divorce. Postnuptial agreements allow spouses to make sound financial decisions while the parties are more likely to treat each other fairly and amicably. These agreements should not be used for one spouse to take advantage of the other financially.
To avoid one spouse being tricked into entering a postnuptial agreement, Florida law requires full financial disclosure. Under the Uniform Premarital Agreement Act (UPAA), full financial disclosure requires that the spouses reveal the extent and value of the assets held so that the other party may make an informed decision as to what will be relinquished as a result of entering the postnuptial agreement.
Essentially, both spouses must fully reveal what the other spouse is giving up by signing the postnuptial agreement, because if the postnuptial agreement is valid and enforceable the complaining spouse may not seek additional financial contributions through equitable distribution (division of marital property) or by petitioning for alimony. In a valid postnuptial agreement parties must waive the right to alimony, equitable distribution, and interest in retirement plans.
It is highly recommended that each spouse seek separate legal counsel before entering into a postnuptial agreement. Entering a binding postnuptial agreement without understanding the long-term legal and financial implications can be detrimental to individual and family financial wellness.
Palm Beach County Nuptial Agreement Attorneys
In life it is important to plan for the ups and the downs. The team of attorneys at Quality Family Law will be there with you for each step of the journey.
With experience in all aspects of family and divorce law, including dissolution of marriage, prenuptial agreements, and postnuptial agreement, the attorneys at Quality Family Law will fully explain all of your legal options and help you make the decision that is best for you and your family.
Contact the Palm Beach County family law lawyers of Quality Family Law at (561) 557-8686 or submit an online form for a confidential consultation. Quality Family Law represents families and individuals in West Palm Beach, Palm Beach, Royal Palm Beach, North Palm Beach, Boca Raton, and throughout Palm Beach County.
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