Nuptial Agreements Types

The court resolves family law disputes.

There are basically two types of nuptial agreements. A prenuptial agreement, also known as an antenuptial agreement, is a contract between soon-to-be spouses. The other type of agreement is a postnuptial agreement. This type of agreement is reached after the couple is married. Keep in mind that these agreements are regulated by state law, so the rules of each agreement may vary from state to state.

Prenuptial Agreements

The purpose of a prenuptial is to provide for the distribution of assets upon divorce in a way that is different from what the law would ordinarily require. The most important requirements are that the contract is fair and reasonable and both parties understand the contract and are entering into it voluntarily. Many states have adopted the Uniform Premarital Agreement Act (UPAA). The UPAA allows the parties to include things such as each party's right to property, spousal support, the making of a will, ownership of death benefits and life insurance policies, as well as any other matter not in violation of a criminal statute.

Postnuptial Agreements

A postnuptial agreement is sometimes referred to as a separation agreement. The purpose of a postnuptial agreement is similar to the purpose of a prenuptial agreement; the difference is that the postnuptial agreement is created after the couple is married. Also, a postnuptial may contain many of the same provisions as prenuptial agreements, as well as other issues such as child custody and child support. Only about half of the states recognize postnuptial agreements, so be sure to check your state law.

Modifications

Prenuptial or postnuptial agreements are handled much like any contract in the courts. Similar to most contracts, the terms may be changed at any time as long as both parties consent to the modifications. Also, a court may void either agreement if the circumstances of the parties have changed to such a great degree that enforcing the contract would be very unfair and unreasonable.

References

• Iowa State University: A Deal Is A Deal...Unless the Court Says It Isn't
• Uniform Prenuptial Agreement Act
• Bankrate: Prenuptial Agreements

Resources

• CNN: Quit Fighting--Get a Postnuptial Agreement