Mid-Marriage Agreements

Postnuptial agreements allocate property in a written contract after the couple is married.

Mid-marriage agreements or "postnuptial agreements" are similar to prenuptial agreements. Although both of these agreements are used to divide property if the couple decides to divorce in the future, not all courts uphold postnuptial agreements.

Provisions

Similar to the general prohibition against enforcing terms that violate public policy laws or state statutes, courts will not uphold provisions in post-nuptial agreements that waive a spouse's rights to visitation with his minor children, child support obligations or basic alimony awards.

Prevention/Solution

These agreements are commonly used in business transactions when a firm's partners require new partners to protect the company's financial assets by executing postnuptial agreements with their spouses .

Function

Mid-marriage agreements may also be used in community property jurisdictions when one spouse uses separate funds to purchase marital community property, such as by providing a separate down payment on the marital residence.

Enforceability

Many jurisdictions provide greater enforceability for prenuptial agreements than postnuptial. These states base their differing treatment upon public policy concerns, stating that "consideration" (parties' value traded for the agreement) should be more than just willingness to stay married.

Fairness and Disclosure

Courts require full disclosure of the couple's financial assets, mutual consideration, fair representation from impartial attorneys and ultimately, fairness in the agreement.

Disclaimer

Since laws may frequently change, you should not use this information as a substitute for legal advice. Seek the advice of an attorney licensed to practice in your jurisdiction.

References

• Prenuptial Agreements.org: Postnuptial Agreements