Most people have heard of prenuptial agreements. However, they’re not the only option married couples have when they want to create an enforceable contract in the event of divorce. Postnuptial agreements have become more common in recent years, with many couples preferring to discuss the possibility of divorce and division of assets after they exchange their vows.
Creating a postnuptial agreement is not an admission or sign that your marriage will likely end in divorce. In fact, it can be a sign of maturity, mutual respect, and proactive financial planning. The family law attorneys at Cobb Cole can help you create a postnuptial agreement that establishes a clear and fair framework for property division and responsibilities in the event of separation or divorce.
What is a Postnuptial Agreement?
Unlike prenuptial agreements, which are signed before a couple marries, postnuptial agreements are executed afterward. These legal documents outline how a couple will divide their assets if they separate or divorce. Where prenups are typically entered into to protect assets like inheritances or family businesses, postnups are often created when circumstances change during a marriage and the couple wants to clarify financial matters moving forward.
For instance, one spouse may launch a successful business or inherit a windfall. In other cases, a spouse doesn’t discover until after they’re married that their partner isn’t particularly responsible when it comes to money. In either case, a postnup protects the financial interests of both parties in the event the marriage ends.
3 Benefits of Postnuptial Agreements
The benefits of creating a well-thought-out postnuptial agreement are numerous, reducing stress during a divorce or separation.
- Clarifies financial responsibilities and rights. A well-constructed postnup outlines each spouse’s asset-related rights and responsibilities during the marriage, including how income and debts will be managed and who maintains certain assets. Establishing these parameters before separation or divorce can prevent misunderstandings and conflicts about finances, which are the number one source of marital conflicts.
- Protects individual assets. A primary benefit of a postnup is the protection it offers for individual assets, particularly in situations where one spouse enters the marriage with significant assets, a family inheritance, or business interests. A postnup ensures these assets are retained by the spouse who owned them before marriage, safeguarding personal and family legacies.
- Facilitates a smoother divorce process. While no couple enters a marriage wanting to separate or divorce, a family law attorney can tell you that Florida has the sixth-highest divorce rate in the nation. A postnup can make separation or divorce less stressful and contentious should the marriage end. By agreeing in advance on how assets and responsibilities will be divided, couples can avoid lengthy court battles and minimize the emotional and financial toll of divorce proceedings, allowing for a more amicable separation with clearly defined expectations.
These and other benefits, which a family law attorney can discuss with you more fully, highlight why many couples now consider a postnuptial agreement a practical component of their marital plans.
Are Postnuptial Agreements Valid in Florida?
To be legally enforceable in Florida, a postnuptial agreement must meet certain requirements, such as:
- It must be in writing. Oral postnups are not valid in the state. They must be in writing and signed by both spouses.
- Full disclosure. Florida family law requires complete financial disclosure from all parties to the postnup.
- Voluntary agreement. Like prenups, postnuptials must be entered into willingly by each spouse. If the court finds one party signed the agreement under duress, coercion, or fraud, it could invalidate the document.
Do You Need a Postnuptial Agreement?
Marriage is an emotional and financial partnership. A postnuptial agreement can help a couple protect their relationship and economic security.
Cobb Cole’s family law team specializes in postnuptial agreements that meet Florida’s legal requirements and ensure your assets are protected and fairly distributed in the case of separation or divorce. We offer non-biased guidance that helps couples make sensible financial decisions after they marry, safeguarding each party’s rights.
Contact us online or call 386-255-8171 to learn more or schedule a consultation with one of our family law attorneys.
