Marriage is intended to be a lifelong commitment between two willing partners. Sometimes, that commitment can be shaken by an outside force that causes strife in the marriage. Things like infidelity, financial abuse, and broken trust can be enough to make one partner end the marriage entirely.
Other times, when both partners are feeling the foundation of their marriage falter, they may consider a postnuptial agreement to strengthen their position. A Missouri divorce lawyer may be necessary.
What Is a Postnuptial Agreement?
It can be difficult to talk about money alongside marriage, even if you are well into your marriage. It can be an uncomfortable subject, and some partners may be offended by the implication of mistrust that such a discussion can often have. However, there’s nothing inherently wrong with taking the necessary steps to protect yourself in the event that things do not work out. It may be important for you to know that your assets are protected.
That’s where a postnuptial agreement comes into play. A postnuptial agreement, often called a postnup, is a marital contract between two married partners that details the division of assets in the event of a divorce. It’s very similar to a prenuptial agreement, with the primary difference being that a prenup is created before the marriage, and a postnup is created during the marriage. A couple can draft a postnup anytime during their marriage.
What Is Included in a Postnuptial Agreement?
Many different marital protections can be included in a postnuptial agreement, though Missouri does not allow any terms that are illegal, immoral, or that go against public policy. In addition, postnups in Missouri cannot include child custody or parental rights. What is included in a postnuptial agreement is how the couple will divide their property and assets in the event of divorce, as well as instructions for spousal support, marital debts, and other financial items.
Elements of a Successful Postnuptial Agreement
Much like a prenuptial agreement, a postnuptial agreement is made to protect marital assets. While a prenup may be in place to protect one spouse’s assets from the other, a postnup is largely made by both partners as a way to ensure joint assets are properly protected. For a postnuptial agreement to be considered valid, it should contain these important elements:
- Written Agreement: The courts will not enforce an oral postnuptial agreement. Since it is considered a legal document, the postnup must be written down.
- Full Disclosure: At the time that each party enters into the postnuptial agreement, they will need to disclose the full accounting of their respective assets to their partner. This includes income and liabilities. If it is discovered that one partner lied about their assets or failed to disclose something significant, it is possible that the agreement will not be enforceable when the time comes.
- Voluntary Participation: A postnuptial agreement cannot legally be made under duress. Both partners have to be willing to sign the agreement voluntarily, fully knowing what they are getting into. If it is discovered that one spouse bullied or threatened the other into participating, the postnup will be considered null and void.
- Fair Balance: A postnup is intended to be a fair and balanced document for both partners. If the agreement is one-sided and unjust to the other partner based on the asset information provided, the agreement may not be enforceable.
- Notarized: To be considered enforceable in a court of law, the postnuptial agreement will need to be signed by both parties and notarized. An experienced family lawyer can help ensure none of these steps are missed or done incorrectly.
FAQs
Q: How Much Will a Postnuptial Agreement Affect My Potential Divorce?
A: There is a strong chance that your postnuptial agreement will greatly affect your divorce. If you developed an enforceable postnup, it will clearly state how you and your spouse want your assets and debts to be divided in the event of divorce. The postnup can essentially act as a settlement, and your divorce can be streamlined without having to go through asset division.
Q: Why Would Someone Need a Postnuptial Agreement?
A: There are many possible reasons why a couple would need to draft a postnuptial agreement. Couples may wish to have a postnup in place to protect a sizable inheritance from going to the wrong people, to provide financial security, or even to protect business assets if the couple owns a business together. Everyone’s needs are different.
Q: What Are the Legal Requirements for a Postnuptial Agreement in Missouri?
A: Each state has its own legal requirements for a postnuptial agreement. While many are similar, others have specific details that can’t be left out. In Missouri, a postnuptial agreement is only enforceable if it is in writing, is entered into voluntarily by both partners, is fair and balanced to both parties, contains a full disclosure of assets, and is notarized properly.
Q: Can a Postnuptial Agreement Be Contested?
A: Yes, a postnuptial agreement can be contested, especially if one partner believes they were coerced or threatened into participating in it or the other party failed to properly disclose all of their assets. If a court decides there was duress or a lack of full disclosure, the postnuptial agreement could be considered null and void.
Reach Out to an Experienced Family Lawyer Today
Every couple’s need for security and reassurance is different. Some couples may be fully content with their lives and financial future without the need for notarized documentation. Others may require something more. A postnuptial agreement can provide, in writing, the financial goals and asset division you envision in the unfortunate event that your marriage ends. It does not guarantee a divorce. It simply protects you and your partner’s assets.
The legal team at Stange Law Firm understands how contentious it can get to bring up the possibility of divorce, even when it’s about a postnup. We can help you determine if a postnup is right for you and your partner. Contact us to speak with a team member about your case.
