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What is a Postnuptial Agreement?
Prenuptial and postnuptial agreements are different types of marital agreements executed by the couple to protect their interests and provide some peace of mind about how things will unfold in the event of a divorce. In the past, there was a lot of negative stigma surrounding prenups and postnups, but with the increase in divorce cases and the complexity of family law cases, more and more people are beginning to see the benefits of enacting these marital contracts.
While many may be familiar with the fundamental nature of a prenuptial agreement, postnuptial agreements are far less common in popular culture and our daily vocabulary. Unlike a prenuptial agreement, which is created by the couple before marriage, the postnuptial agreement is written and enacted after marriage.
There are many reasons why a married couple may consider creating a postnuptial agreement, including financial circumstances, changes in relationship dynamics, career changes, significant debts, and loss of trust in the relationship. By creating a valid postnuptial agreement, you can address family law matters such as asset division, child support, alimony, and visitation rights in the event of a divorce.
A postnuptial agreement should not be written in anticipation of a divorce but rather as a just-in-case document. For more information on postnups and prenups, please contact our law firm to speak to an attorney.
What Can Be Covered in a Postnuptial Agreement in New York?
Several different aspects of your life can be covered in a comprehensive postnuptial agreement.
Examples include the following:
- Defining separate property and marital property can be all-important in divorce proceedings during the division of assets. Without a prenup or postnup, you and your spouse may disagree on what is separate or marital property, which can lead to litigation and the possibility of the courts deciding these matters for you
- If you or your spouse has any debts, the postnuptial contract can indicate which debts and how much are owed by one specific party or shared between the two partners
- Spousal maintenance, also known as spousal support or alimony, can also be addressed in your postnuptial agreement. The marital contract can decide whether any alimony payments are necessary and for how long they should continue
- In marriages that resulted in children, postnuptial agreements can determine child support obligations, visitation rights, and custody. However, though these agreements can influence matters of the children, the courts must consider the best interests of the child above all other things, and may consider these provisions not binding
Do New York Postnuptial Agreements Have Certain Requirements?
Your postnuptial agreement must meet specific legal requirements to be enforceable in New York City. New York family law courts will not automatically uphold a marital contract just because both spouses signed it.
Standards that must be met include, but are not limited to, the following:
- At the time of the agreement, there must be a complete and honest disclosure of each spouse’s financial situation
- Agreement must be in writing
- Both spouses must sign the agreement, and those signatures must be acknowledged before a notary public
- Postnuptial contracts cannot be considered grossly unfair or unconscionable in how they favor one spouse over the other
- It is highly recommended that both spouses retain professional legal representation from separate attorneys when drafting and signing their postnuptial agreement
If any of the above criteria are missing or if there is reason to question the document, the postnuptial agreement could be challenged and declared invalid during divorce proceedings.
Are Postnuptial Agreements Enforceable in NY?
Yes, postnups are usually enforceable in New York State. Still, they must have been executed consistent with state laws. Suppose any basic requirements for a valid postnuptial agreement have not been met. In that case, a family law judge will likely throw out the agreement and consider it invalid.
Many family law courts scrutinize postnuptial agreements far more closely than other family law contracts. One reason for the extra scrutiny is that the married couple is already in a legally binding relationship. It is sometimes believed that a power imbalance or coercion could be used to convince the other spouse of the need to create a postnuptial agreement.
Some of the reasons why courts may refuse to enforce a postnuptial agreement include the following:
- There is the belief that the contract was signed under duress or psychological pressure
- At least one of the spouses failed to provide a full financial disclosure
- The judge believes that the agreement is extremely one-sided and grossly unfair to one spouse
- There was no time given for one or both spouses to seek legal advice from professionals before signing
- The terms of the agreement attempt to disregard or interfere with child support or child custody arrangements, which could be a violation of public policy
What Happens if Your Postnuptial Arrangement Was Poorly Executed?
To ensure that your postnup is valid in the eyes of the law, you and your spouse must fully and fairly disclose all assets, seek the legal help of a lawyer to prepare the documents, and execute the documents according to state law.
If the other spouse or the court challenges your postnuptial agreement, you may be in for an extended litigation case. Ultimately, when a postnuptial agreement is thrown out, it is as though the agreement never existed in the 1st place, and the divorce process must continue accordingly. Without prenuptial or postnuptial agreements, matters like property division, spousal support, and others must be negotiated between the spouses or decided by a judge.
How Can You Strengthen Your Postnuptial Agreement in Hopes of It Being Enforced?
You may take certain steps to help ensure your postnuptial agreement holds up in a court of law.
Our suggestions include the following:
- Each spouse should retain independent legal counsel
- The terms of the agreement should be considered fair to anyone else reading the contract
- Both spouses must fully disclose assets, debts, liabilities, income, and business interests
- The marital agreement should be signed in a moment of emotional or financial crisis
- Thoroughly document all negotiations and agreements, keeping receipts of communications and revisions so that the court sees that the process was fully transparent
Contact Our NYC Law Firm to Request a Free 30-Minute Consultation Today
Those considering a postnuptial agreement must be sure that it meets the established requirements and is considered fair and honest. The surest way to create a postnuptial agreement that the courts will enforce is to seek the legal guidance of an experienced family law attorney.
Our New York law firm has extensive experience representing clients in various family law practice areas, including those interested in creating postnuptial agreements that stand up in a court of law. To learn more about the benefits of retaining our legal services, please get in touch with our NYC law office to schedule your free initial consultation today.
You can reach our legal team by calling us at 917-924-9790.
