When entering into a marriage, many couples choose to sign prenuptial agreements.
A prenup is a legal contract that contains stipulations in the case of a divorce.
These agreements are usually made when one spouse has a great deal more money and assets than the other.
A prenup will protect these assets during a divorce by putting limits on the amount of potential alimony a spouse can receive or provisions for the division of community property.
An individual can then make the signing of this agreement a provision for marriage.
A prenuptial agreement can help ease tensions in a marriage if one partner is concerned about the other's motives for marriage.
But many couples avoid such agreements as aspects of trust and jealousy might be brought up when each partner is forced to sign the document.
Because of these issues, many couples skip the prenup and begin to regret not signing one fairly early on in their marriages.
There is, however, an alternative.
It is called a postnuptial agreement.
This document can be created and signed at any point during the course of a marriage or a civil union.
The Details and Popularity of Postnuptial Agreements A postnuptial agreement is very similar to a prenuptial agreement.
It is also a legal document that attempts to preemptively settle a couple's affairs in the case of divorce or separation.
They tend to focus on alimony stipulations and division of property.
These agreements must be notarized and signed by both parties.
Postnuptial agreements must also have all the elements of contracts.
These elements include: oOffer oAcceptance oConsideration oMutual assent oLegality oCapacity In the United States there are also five additional elements that must be present in a postnuptial agreement.
The additional elements are: oThe agreement must be in writing.
Oral agreements are not recognized oAcceptance of the agreement must be completely voluntary oThere must be complete full and/or fair disclosure of the specific facts contained in the agreement at the time of execution oThe final form of the agreement must be executed by both parties, not their attorneys.
It also must be executed "in the manner required for a deed to be recorded.
" This is known as an acknowledgment before a notary.
For more information regarding the specific legal aspects surrounding the creation of a postnuptial agreement, contact Oceanside area lawyers.