Entering into marriage is a big decision. There are so many things to plan and decide before the marriage takes place and excitement usually takes over and things are often overlooked, financial situations being one of them. After the nuptials, the two of you are not only bound in your love but legally as well. You may want to write a postnuptial agreement for many reasons.
Instructions
1. Know that the length of your marriage up to the point of signing a postnuptial agreement is subject to the joint property law. In most states a judge will decide how these assets and debts are distributed among the married couple.
2. List all of the assets of each party including liabilities, income, expected gifts and inheritances. Describe how debts are to be paid, who will own the joint residence and any additional homes or land. Specify who will retain inheritances and how any gifts received will be allocated. Write down any artwork, jewelry and any other sizable valuables.
3. Work out any alimony or maintenance in an agreement or provide a waiver or property settlement in lieu of support making sure it confines to the laws in your state.
4. Detail what happens in the event of a death of either party and include medical, disability and insurance coverage when you write the postnuptial agreement. Future earnings and gains should be accounted for as well when you write it.
5. Realize that regardless of how well you write your postnuptial agreement, it will be held to a higher standard by a judge in the event of a divorce. This is because one party may have less bargaining power than the other after the marriage has taken place, and the judge has the discretion to omit certain aspects of the agreement.
Tags: write, postnuptial, agreement, postnuptial agreement, when write, write postnuptial, write postnuptial agreement
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