Four Reasons You Need A Postnuptial Agreement
A postnuptial agreement, often simply referred to as a postnup, works very similarly to a prenuptial agreement. Each is a legal document that outlines how property is to be divided in the event of divorce. The only difference is that while a prenuptial agreement is drafted and signed before a couple is married, a postnup is signed after the wedding has already taken place. Some may wonder why a couple would get a postnuptial agreement if they chose not to get a prenup. There are several reasons why, and our Orlando postnuptial agreement lawyer explains what they are below.
You Have Children from a Prior Marriage
Even with a will and estate plan in place, it is important to protect any children you have from a prior marriage. Without a postnuptial agreement, it is possible that your spouse will receive a significant portion of your estate after your death, even if you wanted to leave your children a larger share. A postnuptial agreement will reinforce any documents pertaining to your estate, and ensure that all of your children are protected.
You or Your Spouse Started a Business
Whether one of you owned a business before the marriage and did not draft a prenup, or the business was started after the wedding, it is important to protect it with a postnuptial agreement. Even if the business was started before the marriage, any profits it made after the wedding will still be considered marital property. A postnuptial agreement will ensure ownership remains with the one who started the business, and that profits are divided fairly, if at all.
You Did Not Want a Prenup, but Now Want Protection
The idea of talking about a prenuptial agreement before a couple’s big day is still considered a romance killer to many. Couples sometimes want to focus on their wedding and starting their life together, instead of thinking about dividing their assets during divorce. It is not uncommon for couples to realize the benefits of a prenuptial agreement once they have settled into married life and so, they choose to draft a postnuptial agreement.
You Received an Inheritance
Under Florida law, inheritances received during the marriage are still considered separate property as they are defined as a gift. Still, there are circumstances in which an inheritance may be considered marital property, such as when it is commingled with marital funds. A postnuptial agreement can reinforce the protection under the law by stipulating that the inheritance is the sole property of the spouse who received it.
Our Postnuptial Agreements Lawyer in Orlando Can Draft Your Contract
Postnuptial agreements are legal contracts and so, it is always important to obtain the advice of an Orlando postnuptial agreement lawyer. At Anderson & Ferrin, P.A., our knowledgeable attorneys can advise on your case and draft a postnup that reflects your wishes and provides the protection you need. Call us now at 407-412-7041 or reach out to us online to schedule a free consultation and to learn more.