Towson Postnuptial Agreements Lawyer
Most people are familiar with the concept of a prenuptial agreement. These are documents couples sign before they get married and they outline the terms of any potential divorce. Postnuptial agreements are not as well known but they provide much of the same protection as a prenuptial agreement. The only difference, and it is an important one, is that postnuptial agreements are signed after a couple is already married.
If you are already married and are concerned that your rights will not be protected in the event you divorce, it is important to speak to a Towson postnuptial agreements lawyer. An attorney can determine whether an agreement is right for you, and make sure your best interests are protected.
Why Draft a Postnuptial Agreement?
There are many different reasons people and couples choose to draft a postnuptial agreement. Sometimes, a couple realizes that they should have drafted a prenuptial agreement before they were married while in other cases, a person’s circumstances have changed and they now have assets they wish to protect. Some of the most common reasons couples draft postnuptial agreements include:
- One party wants to protect an inheritance they are expecting in the future,
- One spouse wants to provide for the children in a prior marriage,
- One spouse has significantly more wealth than the other party,
- One party has decided to put their career on hold to stay home and care for the children and household, and
- One party has accrued many debts, such as credit card debt or student loans.
The terms of a postnuptial agreement can include how property is divided during a divorce, and identify the party who will receive alimony, and other financial matters. Postnuptial agreements do not typically address the expected conduct of either party during the marriage.
Requirements for Postnuptial Agreements
Postnuptial agreements must meet certain requirements, and they also cannot include certain terms. In order for a postnuptial agreement to be deemed valid by the courts, the document must:
- Not limit either party’s rights to child custody,
- Be fair and not leave one spouse with a great advantage while placing the other in financial hardship,
- Not include terms that encourages divorce,
- Be entered into after each party has provided full and honest disclosure of their financial circumstances, and
- Not be signed by either party under duress or coercion from the other side.
It is also important to note that both parties must have been given the opportunity to retain a Towson postnuptial agreements lawyer. Although not recommended, either side can waive their right to an attorney. Working with a lawyer really is the only way to ensure an agreement is fair to both sides.
Learn More from Our Postnuptial Agreements Lawyer in Towson
Postnuptial agreements sound like a fairly straightforward concept, but they can become complex and they must meet certain requirements. If you are married and wish to protect your best interests, our Towson postnuptial agreements lawyer at Lebovitz Law can draft a contract that addresses your needs and protects your future. Call us now at (410) 657-6494 or contact us online to schedule a consultation.