When you`re getting married, the last thing on your mind is the possibility of divorce. However, the reality is that not all marriages last forever, and to protect yourself, you may want to consider a post-marital agreement (also known as a postnuptial agreement). In North Carolina, these agreements are legal and enforceable, and can provide peace of mind for both parties.
What is a Post-Marital Agreement?
A post-marital agreement is a legal document that`s signed after a couple is already married. It outlines how assets, debts, and other responsibilities will be divided in the event of a divorce or separation. It`s similar to a prenuptial agreement, except it`s signed after the wedding ceremony. The agreement can outline anything from property division to spousal support, and can even include provisions for child support and custody.
Why Consider a Post-Marital Agreement?
Couples choose to create post-marital agreements for a variety of reasons. For some, it`s a way to ensure that their assets stay separate, even after marriage. For others, it can be a way to protect one spouse from financial ruin if the other has significant debt. Some people may have complex financial situations, such as a business or inheritance, that they want to protect in case of divorce. Whatever the reason, a post-marital agreement can provide clarity and certainty in an uncertain future.
North Carolina Law
Post-marital agreements are recognized and enforceable in North Carolina. The state follows the Uniform Premarital Agreement Act (UPAA), which outlines the requirements for a legally binding agreement. Both parties must enter into the agreement voluntarily and without coercion, and the agreement must be in writing, signed by both parties, and notarized.
It`s important to note that post-marital agreements cannot violate public policy or be unfair to one spouse. For example, an agreement that completely deprives one spouse of assets or support would not be enforceable. Each spouse must have separate legal representation when entering into the agreement, and full disclosure of assets and debts must be made.
Conclusion
A post-marital agreement can be a useful tool for protecting your financial assets in the event of a divorce or separation. If you`re considering creating one, it`s important to seek legal counsel and ensure that the agreement meets all legal requirements. With the help of an experienced attorney, you can create an agreement that provides peace of mind for both parties.
