Most are familiar with prenuptial agreements, which are sometimes referred to as premarital agreements. Prenuptial or premarital agreements are documents signed before marriage. However, many are not so sure what a postnuptial agreement is and why they might want to enter into one.
Prenuptial agreements can encompass a wide range of issues from property and debt division, spousal maintenance, and attorneys’ fees. For a valid prenuptial agreement, certain legal formalities are needed.
A postnuptial agreement is just like a prenuptial agreement, except it is entered into after marriage. Postnuptial agreements can deal with the same issues as prenuptial agreements.
Many who did not get a prenuptial agreement might contemplate getting a postnuptial agreement. They wonder how to get their spouse to agree when they are already married.
Entering into a postnuptial agreement
The reality is that in some engagements, the negotiations over a prenuptial agreement can be significant. In some instances, parties may decide not to get married. Parties may decide to engage in an informal commitment ceremony instead of a formal marriage.
However, if one party wants a postnuptial agreement, there is no easy way for a party to convince their spouse. Ultimately, just like with a prenuptial agreement, both parties need to have independent legal counsel representing them. Any agreement would also require full and fair disclosure, no coercion, or undue influence and it would have to be found to not be unconscionable. Both parties also have to willingly sign the agreement.
For both parties to sign the postnuptial agreement, the terms usually have to result in both parties gaining in some respect by signing. Otherwise, why would they sign? Thus, finding a win-win reason why both parties may wish to sign is most often the key. Win-win solutions can often rigorous negotiations and a balancing of interests.
Favorable terms for an agreement
Some options in terms of win-win solutions may be offering a portion of premarital, separate property to the other spouse in exchange for something else the party wants to protect. It also might mean increased spousal maintenance in exchange for some other assets.
However, if one party is gaining significantly more than the other party, the party who gains less often has no reason to enter into any agreement. In many of these situations, attempts to get the other spouse to agree is often a lost cause.
But one potential way to explore the matter further may be in mediation or through the collaborative process. In either process, the parties might be able to forget a middle ground where the postnuptial agreement makes sense for both. In other cases, the attempts might prove to be unsuccessful.
If you are interested in a postnuptial agreement, Stange Law Firm, PC can help. You can reach us at 855-805-0595.