A postnuptial agreement is a legal contract entered into by spouses. It details the assets and debts of both parties and how all shared assets will be divided following the event of separation. Create your professional legal document in minutes by filling out this Lawrina template in minutes.
Create & DownloadA postnuptial agreement is a document created by a married couple that reaffirms their dedication to each other. It details their individual financial duties, asset distribution, and how to navigate debt ownership if they ever part ways through divorce.
While it has many similarities with a prenuptial agreement, a postnuptial agreement template is uniquely formed after matrimony has already taken place.
Throughout the terms of a sample postnuptial agreement, provisions can also be made for provisions for the other spouse in the event of death, along with other commitments both spouses must adhere to should they decide to separate or divorce.
A postnuptial agreement form goes by other names, such as:
After-marriage agreement; Postmarital contract.Reasons to obtain a sample post nuptial agreement include:
A postnuptial agreement sample PDF format serves as a financial shield for you and your spouse in the event of divorce, separation, or death by catering to several specific needs:
While both agreements serve a similar purpose, the timing of their creation sets them apart. A postnuptial agreement is formulated by couples post-marriage, whereas a post nuptial agreement form is pre-marital.
Contrarily, if the prenuptial agreement no longer adapts to a married couple's needs, it can be cancelled and substituted by a postnuptial agreement.
Creating a postnup template does not necessitate an imminent divorce, nor does it imply that one will occur. It merely serves as a preventive measure, providing a safety net in case of divorce or separation.
If you're already thinking about divorce, then it's not a good idea to depend on a postnuptial agreement. In this case, it's better to make a separation agreement which clearly sets out the terms of your separation.
Lawrina provides a user-friendly platform to create and customize a post nup agreement template by simply filling it out with the help of an online interview. The necessary steps are as follows:
Start with the basics: enter the full names and residential addresses of both spouses.
Compile a complete list of assets which are:
Separate: Any asset individually owned by one spouse who retains ownership in case of divorce or separation.
Shared: Assets owned jointly by both spouses and may be subject to division or buy-out upon separation.
Assets typically classified as shared property upon marriage could include real estate, retirement funds, or stocks acquired during the marital period. The division of these and any future shared assets can be stipulated in your post nup agreement.
Decide upon and clearly define how joint assets will be divided. By common legal rules, courts usually divide assets equally or follow the idea of fair distribution (which means in a balanced way).
Bear in mind that fair distribution doesn't always mean a perfect 50/50 split. The default practice varies depending on the jurisdiction of your locality. Alternatively, you can also opt to partition a shared asset according to each spouse's financial contribution towards that asset.
Just as with assets, you need to provide a detailed list of all your debts, whether separate (each party is responsible for their respective debt) or joint (both parties are equally accountable).
Specify your decision about how joint debts will be tackled. Most couples opt for an equal split of shared debts.
Offer details pertaining to the dependent children from both ongoing marriages and any past relationships. A dependent child either born to or adopted by the parents, who the parents have to legally take care of. Usually, a dependent is a child who is younger than 18 and looked after by an adult.
Outline the terms for spousal support. This support, also known as alimony or spousal maintenance, is the financial assistance one spouse provides to the other after a separation. This support aims to help the lower-earning spouse sustain their lifestyle till they can attain a sufficient income level.
Several factors can influence the length and amount of spousal support payments:
Duration of the marriage; Future earning potential of the lesser-earning spouse; Individual inputs during the marriage; Health status of each party.While including spousal support provisions in your online postnuptial agreement is at your discretion, it's important to remember if no decisions are made regarding this, the governing state or federal laws will decide the spousal support terms should a divorce occur.
Depending on your specific scenario, you can limit what portion of your estate your spouse can inherit. This may be decided based on other beneficiaries you may have, like children from past relationships.
You can add extra clauses in your postnuptial agreement. However, it's necessary to avoid terms that are illegal or unlawful, biased toward one partner, concerning physical appearance or fidelity, or relating to child custody or support and parenting rights.
A postnuptial agreement works like a legal contract if it includes all the necessary parts a contract needs. Courts typically regard printable postnuptial agreement templates in the same light as any other contracts.
To be legally valid, a postnuptial agreement needs to follow these rules:
Every state follows its own specific regulations pertaining to the implementation of a postnuptial agreement during a separation or a divorce. It's advisable to receive independent legal advice or explore your local county laws to get a better understanding of how they put into effect the provisions of postnuptial agreements.
