Many people living in Florida are familiar with a prenuptial agreement. However, a fairly new legal document that is becoming popular for newlyweds is a postnuptial agreement. If you’ve recently been married, you may want to consider crafting one of these documents to help ensure your financial stability in the future if you fit into any of these categories.
You’ve started a business
Unfortunately, the process of property division during a divorce usually results in each spouse getting half of the business. This can be extremely frustrating when you build up the business on your own and when your spouse is not involved in its day-to-day operations. What you can do to protect yourself is to have your spouse sign a postnuptial agreement giving up their claim to any stake in your business.
You’ve received a large inheritance
If you have received a rather large inheritance from a family member or a friend, you may want to consider signing a postnuptial agreement. Traditionally, new assets that are gained during the marriage are considered marital assets. This would mean that your spouse is entitled to half of the assets. By signing a postnuptial agreement, you can keep the large inheritance as a separate property, assuming that your state recognizes the postnuptial agreement.
You expect to inherit significant future assets
After you get married, you may find out that you’re named on another person’s will and receiving significant assets. You may want to sign a postnuptial agreement to help protect your interest in those future assets in the event of a divorce.
While prenuptial agreements have always been the standard for helping to separate marital property and personal property, not all couples sign them before getting married. Fortunately, postnuptial agreements are a new trend to help protect a spouse’s interest in endeavors like a business or a large inheritance. It’s important to know that not all states are formally recognizing postnuptial agreements as valid. It’s advisable to check with an attorney in your state to determine whether or not postnuptial agreements are legally upheld.