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Similar to a prenuptial agreement, a postnuptial agreement also outlines a couple’s desires related to property division, alimony, child support, child custody, and visitation in the event of a divorce. However, these types of agreements are filed after a couple has been married.

Although everyone can benefit from a postnuptial agreement, there are certain individuals who might need one for their best interest. For example, if you manage and own a business, a postnuptial agreement can help it from property division if anything should happen to your marriage. If your current marriage is your second or third marriage and you have kids from a previous marriage, a postnuptial agreement can help ensure that some of your assets go to your children.

The following are five benefits of creating a postnuptial agreement:

  1. Protects your financial stability – A well-crafted postnuptial agreement can protect the financial interests of both spouses. It can protect each spouse’s separate property from future claims, determine the property division of new assets acquired during the marriage, and stipulate whether one spouse would be responsible for paying the other alimony in the event of a divorce.
  2. Protect the financial stability of your children – As we mentioned before, a postnuptial agreement can protect money intended for your children to be taken by your spouse upon divorce.
  3. Defines expectations – Since financial issues are a common cause of marital fights, a postnuptial agreement can help a couple establish similar financial expectations.
  4. Simplify the divorce process – A postnuptial agreement can help ensure a more expeditious divorce by determining specific factors of the settlement in advance.
  5. Peace of mind – A postnuptial agreement may help mitigate the emotions and uncertainty that can result from a contentious divorce

Remember, it may be difficult to discuss possibly creating a postnuptial agreement, especially if you and your spouse are experiencing some difficulties in your marriage. However, remind your spouse that such a contract is an effective way to deal with a wide variety of financial issues in a marriage.

Lastly, it is important to seek legal help from a skilled family law attorney. A lawyer can help you understand your rights, draft your postnuptial agreement, and ensure that it is valid and enforceable by the court.

If you are interested in making a postnuptial agreement, contact our Miami divorce attorney at Mitchell & West LLC today.

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