How to Word a Postnuptial Agreement

A couple creating a postnuptial agreement should state all issues clearly.

A postnuptial agreement is an agreement made by a couple after they get married that states how the couple will divide assets and debts in the event of divorce. Postnuptial agreements are also used by couples in civil unions. A postnuptial agreement is created, signed by both parties and notarized in order for the document to be legal. Postnuptial agreements can be created by the couple or by a lawyer. They are often created when the financial status of one spouse changes drastically.

Instructions

1. Decide if a postnuptial agreement is wanted by both people. Couples discuss whether or not they feel a postnuptial agreement is necessary. This agreement cannot be created and legal if both parties do not agree to it.

2. List all assets and liabilities of both people. Income of both parties is typically listed, as well as inheritance expectations. Every item owned or owed should be listed on the agreement.

3. Explain how debts will be paid. If the couple decides to divorce at some point after the agreement is made, the agreement already states how all joint debt is to be paid. This decision is made prior to the divorce allowing less controversy and questions if a divorce arises.

4. State how assets will be divided between the couple, including income and expenses from rental property owned by the couple. Typically, if a couple owns rental property, after a divorce, the property is sold to one of the parties or sold to a third party.

5. Plan for future gifts. If an inheritance is expected, the postnuptial agreement should state how the inheritance will be divided and any exclusions or rules that apply.

6. Agree on an alimony or child support issues. If children are involved, the couple may choose to agree on custody issues and child support issues. If alimony is allowed in the state you live in, this can also be agreed upon.

7. Bring it to an attorney. After all issues are clearly stated, the postnuptial agreement should be checked by an attorney who specializes in this field. After it is checked and complete, both couples should read the agreement and sign it if it is they are in agreement.

References

• Equality in Marriage: Creating a Postnuptial Agreement
• Prenuptial Agreements: Postnuptial Agreements
• Total Divorce: Postnuptial Agreements
• Docstoc: How to Write a Postnuptial Agreement