By Lisa Marie Vari of Lisa Marie Vari & Associates of Lisa Marie Vari & Associates, P.C.posted in Prenuptial Agreements on Monday, May 5, 2014.
Post-Nuptial agreements are becoming more popular in America today. There are two common times that these agreements, also known as Marriage Settlement Agreements, are created. First, it is often advisable, to create a post-nuptial agreement when one spouse leaves the workforce in order to stay home to raise the children. The second is when the two parties are on good terms, yet are seriously considering divorce.
For the stay at home spouse, it is very important that they protect themselves. A gap in experience that reflects the amount of time one spends raising a child or children can be significant enough to disqualify an individual from work they were performing years ago. Because of this, these individuals should protect themselves in the case of divorce.
These agreements are very similar to pre-nuptial agreements, however they are created once the couple is married. Post-nuptial agreements require disclosure regarding all income, assets and debts. Such things should be fully disclosed. The agreements also account for plans for alimony payments upon divorce as well as property division upon death or divorce. Additional other important additional factors should be the plan for division of martial assets if there is a divorce as well as a plan for mortgage payment if applicable.
Like prenuptial-agreements, things such as child custody and support may not be included in this agreement. Courts will not honor parties who try to bargain with the support needs and rights of their children. Parties may attempt to include such provisions, however the court is not obligated to uphold and enforce them.
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