Can You Do A Postnuptial Agreement Without A Lawyer?

A postnuptial agreement is a legal arrangement created by a couple after they get married. This written agreement can detail various boundaries as well as assign ownership of both property and assets. While you don’t always need a lawyer to create this agreement, there are many reasons why you’d want the help of an experienced lawyer for this process.

What Is A Postnuptial Agreement?

A postnup is often created so that, in the event of a separation or divorce, each spouse may keep the important assets they may have had prior to the marriage.

This agreement typically covers financial matters, such as setting the ground rules for how finances are to be handled during the union or the anticipation of real estate property division. Another reason why a couple could seek this agreement is if one spouse potentially inherits a considerable amount of assets or property and hopes to protect this in the event of a divorce.

Whatever the specific terms, these agreements are in place for pragmatic reasons. Couples often utilize these agreements to avoid miscommunication and extended litigation in case there are marital problems in the future. Postnups are important because if a separation or divorce happens, the court will be responsible for dividing all the assets and property belonging to the couple. These agreements are intended to give the spouses control over how property and assets are divided.

Can You Create A Postnuptial Agreement Without A Lawyer?

While it is possible to create a postnup yourself, this doesn’t have to mean you are on your own during this process. There are many online resources and self-help tools available for anyone drafting this agreement.

Be aware that while creating the postnup yourself is possible, it’s not typically ideal. The complexity of your financial situation and your specific state laws can make professional advice a necessity. It’s always best to contact an experienced divorce lawyer in your area.

Understanding Your State Laws First

Before creating the agreement, you need to familiarize yourself with the existing laws within your state. Each and every state will feature its own set of rules and requirements for postnups.

Here are some common requirements across the U.S.:

• All states currently require these agreements to be in writing and signed by both parties.
• Full and fair disclosure of all income, assets, and liabilities is typically required.
• The agreement must be fair for both sides.
• Both parties must enter into the agreement both willingly and without coercion.

The Agreement Needs To Be Equitable And Consensual

Both parties must completely comprehend the agreement’s implications and consent to it voluntarily. The postnup also needs to be equitable, but it doesn’t have to mean a 50/50 split. Instead, it should be fair and reasonable considering the totality of circumstances.

If the agreement is ultimately unfair or there is evidence of fraud, misrepresentation, or duress, the court is likely to toss it out.

What Does A Postnuptial Agreement Cover?

A postnuptial agreement is put in place to outline the different assets spouses own and can dictate what happens to said assets in the event of a divorce. Let’s take a look at the most common and important areas covered in a postnup.

Financial Assets

This agreement can cover the various financial assets of each spouse, including their income and/or retirement fund. In divorces with a prenup or postnup, a spouse who earns more money can be subject to an unfair division of assets. This can happen when the other spouse actively pursues these assets. The prenup can also examine how debt is to be divided in the event of a separation or divorce.

Property And Asset Division

Following the end of a marriage, many people feel more comfortable creating legal documents to identify their valued assets and property. This way, if a separation or divorce occurs, they can ensure they’ll be able to keep what they had prior to their marriage. Not only can a postnuptial agreement identify ownership of assets, but it can also dictate how they will be divided after a marriage.

Alimony

Commonly known as spousal support, alimony is a payment made from one spouse to another following a divorce to ensure they can keep the same lifestyle they’ve been accustomed to. Many people will create parameters around alimony in their postnuptial agreement in order to prevent any unfair legal action from the other spouse after the divorce.

DIY Vs Hiring A Lawyer For A Postnuptial Agreement

If you and your spouse are on good speaking terms, it is possible to communicate openly and create the agreement yourselves. The biggest advantage of creating the agreement yourselves is saving costs on a lawyer.

However, there are many benefits of using a lawyer’s expertise for this process. For starters, the lawyer can ensure the agreement is legal and enforceable. The lawyer can also help you navigate through any complex financial circumstances. Incorrectly formatting the postnup yourself without the help of a lawyer will inevitably lead to more legal headaches.

Source: “How To Write A Postnuptial Agreement With Or Without A Lawyer” Hello Divorce https://hellodivorce.com/divorce-planning/how-to-write-a-postnuptial-agreement-with-or-without-a-lawyer