Do you need a post-nuptial agreement?

On Behalf of | Jul 18, 2024 | Family Law |

If you married without a prenuptial agreement, you may assume you no longer have the protections a pre-nuptial agreement could provide if you divorce. However, a post-nuptial agreement may be an option.

What is a post-nuptial agreement?

A post-nuptial agreement is an agreement on how to split marital assets and debts. Child support and spousal support cannot be waived through a post-nuptial agreement. The difference is that it is drafted and executed after marriage.

Post-nuptial agreements are becoming more common. Many people start a marriage with little assets. But as life situations change, they may want to protect assets that have accumulated during a marriage. A post-nuptial agreement can accomplish this goal.

Before you decide whether a post-nuptial agreement is right for your situation, there are some factors to consider.

Advantages and disadvantages

Since a post-nuptial agreement is drafted and executed after marriage, you and your spouse might be in a better place when it comes to discussing finances. This type of conversation is sometimes easier to have after a wedding.

A post-nuptial agreement is often a good idea if you and your spouse have children from other relationships. It allows you to protect your children’s interest in certain assets you want to leave to them.

However, a post-nuptial agreement may not be right for all marriages. As with a pre-nuptial agreement, the purpose of the agreement is to address what happens in a divorce, which not everyone is comfortable with.

Even if you and your spouse agree to execute a post-nuptial agreement, the negotiation process could start bringing up uncomfortable issues and discussions.

A post-nuptial agreement should protect you

Although you and your spouse control the terms of your post-nuptial agreement, a court will typically review the terms to ensure they are fair. Terms that are unfair or against public policy could be stricken by a court.

North Carolina law requires that a post-nuptial agreement be in writing, notarized and signed by both spouses to be valid.