What is a Postnup Agreement?

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You may have heard about prenuptial agreements and how they can help protect assets. But have you heard about postnuptial agreements? What is a postnup agreement, and do you need one?

Hi, I’m Sergio Cabanas, Managing Attorney of the Divorce & Mediation Law Firm right here in Florida. Thank you for joining me today.

Today’s question is: “Sergio, what exactly is a postnuptial agreement? Or what’s known as a postnup, and how do they work?”

Well, a postnuptial agreement would be very similar to a prenuptial agreement because it addresses issues such as the distribution of marital assets upon a divorce. This could deal with your house, your retirement accounts, other investments, etc. It can also address issues such as debts and other liabilities that will be divided between you and your spouse in the event of divorce. It may also call for a certain amount of alimony or even eliminate it altogether, depending on your agreement.

Usually, a postnuptial agreement is done for one of two reasons. Number 1: the parties did not have a chance to finalize a good prenuptial agreement before the wedding. If the prenuptial agreement is signed too close to a wedding day, it runs the risk that it could be invalidated by the court because one of the parties could later say they were pressured into signing the agreement due to time constraints for the wedding. So, they may find themselves trying to execute a postnuptial agreement after the wedding to avoid this potential problem in the future.

Reason 2: the spouses may not have anticipated the problems that developed during the marriage, and one or both of the spouses are realizing that divorce may be possible. However, the spouses may agree to delay the divorce for special reasons, such as the possibility of reconciliation. Or maybe we want to delay the divorce for other special reasons, such as waiting for the children to reach a certain majority age. Or maybe immigration purposes. Or some other financial reason.

The postnuptial agreement allows the parties to hold off a divorce while agreeing in advance how the assets and debts will be divided in the event of divorce. It could also address the issues relating to alimony in the event of divorce. Once these issues are resolved, your divorce could go a lot more smoothly, easier, faster, and cheaper.

Just keep in mind: Florida law does not allow the parties to pre-negotiate the issues relating to children; such as time-sharing or custody, child support, parental responsibility, relocations, and so on. If you need help with your postnup agreement, just give us a call today and explore your options.

I hope this short video provided you with at least some guidance about postnuptial agreements and how it can work for you. Thank you again for joining me today. And as always: Stay informed so you can stay strong.

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The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country, or other appropriate licensing jurisdiction.

Divorce & Mediation Law Firm | Cabanas Law Firm
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Pembroke Pines, FL 33029
(954) 447-2580
https://cabanaslawfirm.com

Author

Sergio Cabanas, Esq. founded the Cabanas Law Firm in 2006 and provides Divorce and Family legal services, as well as Estate Planning, to ensure his clients have planned for their newly single life and are protected after their divorce. He began his career in law in 1992 as a prosecuting attorney at the Broward County State Attorney’s Office, then continued his litigation track as an insurance defense attorney defending medical professionals against medical malpractice claims and expanded into disability and life insurance claims. Sergio is a Certified Mediator registered in the Supreme Court of Florida and a frequent speaker in the community about the importance of Estate Planning to keep families out of probate court and to prepare essential instructions in the event of disability or incapacity.