Early Law Group P.C.

Postnuptial Agreements

A postnuptial agreement in New York is basically the same as a prenuptial agreement in New York, except that you and your spouse enter into the agreement after getting married. In a postnuptial agreement, each party discloses to one another all the money and property they each currently own, both separate property and marital property. Then, both parties set forth the rights, responsibilities, and how money and property will be divided in the event of divorce. A postnuptial agreement is valid and can be enforced as long as it protects both you and your spouse and it was entered with fair disclosure of all assets by both you and your spouse. 

 

Just like a prenuptial agreement, in order for a postnuptial agreement to be valid in New York State, it must be in writing, signed by both parties, and notarized. It must also be entered voluntarily, and the parties must provide complete financial disclosure to each other. Separate attorneys must represent each spouse and neither spouse can be coerced into signing it the agreement.

A postnuptial agreement can address many things, including:

  • Defining Separate Property and Martial Property: The property and assets you bring before a marriage are called separate property. A postnuptial agreement should specifically identify which property is separate property for each of you. If separate property is not specifically in your name only, then despite the postnuptial agreement, the property may later be considered marital property and divided equally between you and your spouse in a divorce.

 

  • Marital property includes property attained by the couple during the marriage. Marital property can also include separate property that becomes marital property – such as a separately-owned house that is later put in both spouse’s names. 

 

  • Identifying Pre-Marriage Debts: If one spouse has a large amount of debt prior to the marriage, the postnuptial agreement can state the debt stays with that spouse only upon a divorce.

 

  • Establishing Spousal Maintenance: The agreement can establish the amount of spousal maintenance also known as alimony that will be paid to a spouse post-divorce. On the flip side, it can also specify that there will be no spousal maintenance given.

In essence, prenuptial and postnuptial agreements can take pressure off a marriage and give spouses confidence in their future security shall their marriage end in a divorce. Otherwise, without a pre- or postnuptial agreements, New York laws regarding distribution would apply.

A Postnup Attorney Can Help

If seeking a postnuptial agreement, it’s important that you contact an experienced postnup attorney first to seek the correct guidance. Latonia at Early Family Law will ensure the postnuptial agreement process is handled correctly and that your best interests are upheld.

Questions about postnuptial agreements?

Latonia Early-Hubelbank is here to help and give a detailed breakdown.