A postnuptial agreement is a contract that a couple enters into after their marriage in order to settle such matters as alimony, property division and even child support in the event of a separation agreement or divorce. It can provide a number of benefits to both spouses. I like to refer to a postnuptial agreement as “pre-divorce” planning.
If you consider your marriage and all of your financial wealth (both that which you bring to the marriage and accumulate during the marriage) as one of the biggest, most important “assets” you own, it makes perfect sense to protect it as well. That is the function of both prenuptial and postnuptial agreements in New York.
Generally speaking, for a postnuptial agreement to be valid, it must be in writing, must be voluntarily agreed to by both parties, must have full and fair disclosure at the time of the agreement and must be executed before a notary public.
Jonna’s Legal Lowdown: Some criticize both prenuptial and postnuptial agreements as “unromantic” and “planning for disaster”. I see them more as insurance policies. Think about it. Would you drive a car or buy a home without protecting against “disaster” by insuring your asset is protected against a calamity? Of course not!