Your Guide to Creating a Postnuptial Agreement
While it may initially seem unromantic, postnuptial agreements are an indispensable and strategic tool in securing your financial future and protecting your interests. Unfortunately, due to societal stigma and misconceptions, these agreements are often misunderstood or entirely avoided. Smith Legal Group assists clients in the creation of postnuptial agreements in Henderson, Nevada, and the surrounding areas. We understand that each individual’s circumstances are unique, and we tailor our approach to meet your specific needs and concerns. Learn more about our postnuptial agreement services.
What’s a Postnuptial Agreement?
A postnuptial agreement is a legally binding contract between spouses established after marriage. It clarifies the allocation and ownership of separate property, outlines the distribution of marital property and financial assets, and governs questions of property, debts, and alimony. Complete disclosure of all property owned by both parties is mandatory, and each party must have their own legal counsel. This agreement provides a framework for property rights and responsibilities, ensuring transparency and fairness should the marriage ever end.
How Do Marital Agreements Work in Las Vegas?
Marital agreements are contracts that enable couples to clarify their rights and obligations regarding property division, spousal support, and all aspects of finances. In 2017, Nevada adopted the Uniform Premarital and Marital Agreements Act, making it easier for couples to draft and enforce these agreements. However, there are still several legal requirements in place to ensure the agreement is voluntary, in writing, and signed by both parties.
Why Should I Consider Drafting a Postnup
Postnuptial agreements are often used to update prenuptial agreements or to clarify financial rights and obligations after the marriage has already taken place. Common reasons to consider drafting a postnup include significant changes in income or assets, a change in employment status, starting a business, or if one partner is entering into a new business venture. Additionally, if you have children from a previous relationship, a postnuptial agreement can protect your assets for their inheritance.
What Are the Requirements for a Postnuptial Agreement?
In Nevada, a postnuptial agreement can be formed at any point after the marriage. The agreement is a contract that details how a couple’s separate and joint property, acquired prior to or after the marriage, will be divided. The key requirements for a valid postnuptial agreement include:
- The agreement must be in writing.
- It must be executed and acknowledged in the same manner as a real estate title transfer.
- Both parties must hire their own legal counsel.
- All property owned by both parties must be disclosed during the process.
Postnuptial Agreement vs Prenuptial Agreement
Postnuptial agreements and prenuptial agreements serve similar purposes, but there are some crucial differences. A prenup is signed before marriage, while a postnuptial agreement is signed after the marriage has already taken place. Additionally, prenuptial agreements are generally more enforceable as they do not have the potential question of coercion that exists after the marriage has begun.
Schedule a Free Postnuptial Agreement Consultation Now
At Smith Legal Group, we understand that the decision to sign a postnuptial agreement is not one that should be taken lightly. That’s why we offer the experience and expertise you need to make an informed decision. We’re here to help you safeguard your financial future and protect your interests in the event of divorce. Our team offers flexible payment plans and convenient appointment times. We can meet with you after regular office hours and even on weekends. Consultations with our postnuptial agreement lawyers are always free. Contact us today to schedule your free postnuptial agreement consultation.