POSTNUPTIAL AGREEMENT
THIS POSTNUPTIAL AGREEMENT (the "Agreement") is entered into as of _____________ by and between _____________, residing at _____________, _____________, _____________ _____________, and _____________, residing at _____________, _____________, _____________ _____________ (collectively the "Parties" and each a "Party" to this Agreement).
WITNESSETH:
WHEREAS, the Parties are entering into this Agreement in regard to their marriage, which occurred on or about _____________;
WHEREAS, the Parties intend for this Agreement to establish their rights and liabilities with regard to their assets and debts that they now own or may hereafter acquire and their rights and responsibilities regarding finances and other matters pertaining to their marriage;
WHEREAS,
WHEREAS,
WHEREAS, each Party has executed this Agreement in good faith and upon an accurate and complete disclosure of all financial, property, and other matters related to this Agreement;
WHEREAS, each Party acknowledges that he or she has been informed of his or her relevant legal rights pertaining to this Agreement; has been informed that he or she should consult independent counsel of his or her choosing; has had the full opportunity to be counseled by an independent attorney of his or her choosing regarding this Agreement and his or her relevant legal rights; has had the full opportunity to review, negotiate, and consider the terms of this Agreement prior to execution; believes the terms contained in this Agreement are fair, just, and reasonable; and enters into this Agreement voluntarily without duress, undue influence, or improper consideration; and
NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained, and other valuable consideration, each Party promises to abide by the terms and conditions of this Agreement and to fully perform its obligations in good faith.
By signing this Agreement, each Party hereby represents and swears that he or she has read the entire Agreement and that all terms stated herein are fair and reasonable and not the product of fraud, force, or undue influence.
________________________ Date: __________
_____________
________________________ Date: __________
_____________
Witnesses
On this the ____ day of ________, 20____, the foregoing instrument was sworn to and acknowledged before me by the following person(s), known or proven to me to be the person(s) whose name(s) is/are subscribed to within the postnuptial agreement entered into as of _____________ by and between _____________ and _____________. I further swear that I am unrelated to the parties signing this document by blood and hold no interest in the matter.
FIRST WITNESS Signed: ________________________ |
SECOND WITNESS Signed: ________________________ |
NOTARY ACKNOWLEDGMENT
State of _____________
SS.
County of _____________
On _____________, before me, personally appeared _____________ who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to within this POSTNUPTIAL AGREEMENT, and acknowledged to me that he or she executed the same in authorized capacity, and that by his or her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.
I certify under PENALTY OF PERJURY that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Print: ____________________________ Commission Expires: _______________
Sign: ____________________________ [Affix seal]
NOTARY PUBLIC
NOTARY ACKNOWLEDGMENT
State of _____________
SS.
County of _____________
On _____________, before me, personally appeared _____________ who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to within this POSTNUPTIAL AGREEMENT, and acknowledged to me that he or she executed the same in authorized capacity, and that by his or her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.
I certify under PENALTY OF PERJURY that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Print: ____________________________ Commission Expires: _______________
Sign: ____________________________ [Affix seal]
NOTARY PUBLIC
Schedule 1
_____________________
Financial Information
Assets |
Value |
Details |
Total Assets $0.00
Debts |
Amount |
Details |
Total Debts $0.00
Net Worth $0.00
Income Source |
Annual Amount |
Total Income $0.00
By signing below I represent and verify that the information contained in this Schedule 1 is true and complete to the best of my knowledge and belief and that I have received a copy of this Schedule.
________________________ Date: __________
_____________
________________________ Date: __________
_____________
Schedule 2
_____________________
Financial Information
Assets |
Value |
Details |
Total Assets $0.00
Debts |
Amount |
Details |
Total Debts $0.00
Net Worth $0.00
Income Source |
Annual Amount |
Total Income $0.00
By signing below I represent and verify that the information contained in this Schedule 2 is true and complete to the best of my knowledge and belief and that I have received a copy of this Schedule.
________________________ Date: __________
_____________
________________________ Date: __________
_____________
Acknowledgments and Waiver Rights under State Law
In connection with the Postnuptial Agreement executed concurrently herewith, I hereby understand and acknowledge the following rights and obligations under state law:
Signed: ___________________________ Date: ______________________
_____________
Signed: ___________________________ Date: ______________________
_____________
Instructions for Your Postnuptial Agreement
Separate and Shared Property
Defining what property is considered "separate property" and what property is considered "shared property" is one of the central features of any postnuptial agreement. Shared property is any property in which the spouses have signed documentation reflecting their clear intention to share ownership or any property purchased using joint funds. Each party will receive an interest in property purchased using joint funds (funds from both spouses) in proportion to their contribution.
Note that the parties may always change the amount of their ownership interests in shared property or reclassify separate property as shared property (and vice versa) through a written agreement. In the event of divorce, shared property will be divided, typically by either selling the property and dividing the proceeds or by one spouse keeping the property and paying the other spouse half of the value.
Enforcing the Agreement
It is important to realize that courts are not required to follow every term in a postnuptial agreement. For instance, courts in some states are not necessarily required to follow provisions related to spousal support. Divorce and family courts must first determine which provisions of the spouses' postnuptial agreement will in fact be upheld. However, by using a postnuptial agreement, the spouses are greatly improving their odds of having their original wishes carried out in the event the marriage ends by divorce, annulment, death of a spouse, or otherwise. It is recommended that each spouse consult their own independent counsel regarding their rights and obligations under this agreement.
Waiver of Independent Counsel
It is recommended that each spouse consult his or her own independent counsel to review the rights and obligations under this agreement, especially if one party has more bargaining power or higher education. However, in the event that the parties opt to waive (give up their legal right) to independent counsel, the parties need to sign the waiver attached to the agreement titled "Advisement and Waiver of Independent Counsel." Please note that Minnesota and South Carolina always require each party to be represented by independent counsel. We do not provide the waiver of independent counsel if you are signing the agreement in one of these states. Furthermore, independent counsel is strongly advised in Alabama and Massachusetts, but not required.
Full Disclosure
It is also very important that both spouses be completely thorough in disclosing all assets, debts, and income sources in the document. Failing to do this can result in the agreement being invalidated if it is ever litigated in court.
Dispute Resolution
It is recommended that you include a mediation and/or arbitration provision when prompted. This will require disputes to be settled through mediation or binding arbitration and avoid the time and expense of going through the formal court system.
Last Will and Testament
A postnuptial agreement is not a replacement for having a last will and testament (see LegalNature's last will and testament available for download). Furthermore, nothing in this agreement prevents the parties from naming each other as beneficiaries in their wills, trusts, or retirement plans.
Waiting Period
State law normally requires that both spouses have at least a reasonable amount of time from the time they first receive the postnuptial agreement to review it and seek any legal or financial counsel before signing. It is highly recommended that the spouses wait at least one week from the time of first receiving the agreement before signing to ensure that the agreement will be enforceable.
Executing Your Agreement
In order to make sure your agreement is legally valid, you need to ensure that it is properly executed. When the parties are ready to sign they should be sure to initial at the bottom of every page of the agreement in order to show that each page was read. You should then sign where indicated in the presence of a notary and two witnesses (three witnesses are needed in New Hampshire and Vermont).
Use a postnuptial agreement once you are already married in order to decide important financial issues regarding your marriage. Doing so helps avoid many common stresses and often leads to a healthier relationship with your spouse.
Our intuitive process helps guide you through customizing your agreement according to your needs. Easily specify how property and income will be shared, how debts will be divided, and whether alimony will be paid upon divorce or separation. Also, choose how property will be divided in the event of a divorce or the death of a spouse.
LegalNature's step-by-step guidance will help you quickly create a postnuptial agreement without the need of an attorney. If you are not yet married, you should use a prenuptial agreement to accomplish these goals instead.
Use a postnuptial agreement once you are already married in order to decide important financial issues regarding your marriage. Doing so helps avoid many common stresses and often leads to a healthier relationship with your spouse.
Our intuitive process helps guide you through customizing your agreement according to your needs. Easily specify how property and income will be shared, how debts will be divided, and whether alimony will be paid upon divorce or separation. Also, choose how property will be divided in the event of a divorce or the death of a spouse.
LegalNature's step-by-step guidance will help you quickly create a postnuptial agreement without the need of an attorney. If you are not yet married, you should use a prenuptial agreement to accomplish these goals instead.
Use a postnuptial agreement once you are already married in order to decide important financial issues regarding your marriage. Doing so helps avoid many common stresses and often leads to a healthier relationship with your spouse.
Our intuitive process helps guide you through customizing your agreement according to your needs. Easily specify how property and income will be shared, how debts will be divided, and whether alimony will be paid upon divorce or separation. Also, choose how property will be divided in the event of a divorce or the death of a spouse.
LegalNature's step-by-step guidance will help you quickly create a postnuptial agreement without the need of an attorney. If you are not yet married, you should use a prenuptial agreement to accomplish these goals instead.
Show Less