What Constitutes a Valid Postnuptial Agreement?

You may have forgone establishing a prenuptial agreement before you exchanged vows with your spouse because you were hesitant with the negative stigma surrounding it. Or, it may have simply slipped your mind in the chaos of your wedding planning. And after years of a happy and successful marriage, you may assume it is pointless to make a postnuptial agreement. But this option is at your disposal for a reason, which may closely apply to you and your spouse. So, with that being said, please follow along to find out what constitutes a valid postnuptial agreement and how one of the proficient Clarksville family lawyers at Fendley and Etson can determine whether you necessarily need to establish one.

Why would I want to establish a postnuptial agreement?

As the name suggests, a postnuptial agreement is a legal agreement between you and your spouse that covers what will become of your assets if you separate, divorce, or sadly pass away. Your main reason for wanting to establish this agreement is that you may have concerns about your assets that did not exist or you did not fully realize before your marriage. More specific examples of this are as follows:

• You may want to clarify the separate debts owed by both you and your spouse before your marriage.
• You may want to protect yourself from the debts incurred by your spouse during your marriage, or vice versa.
• You may want to establish a support plan if you left your career to focus on domestic duties in your household, or vice versa.
• You may want to protect a business you or your spouse launched during your marriage, and its partners, investors, shareholders, etc.
• You may want to protect an inheritance you or your spouse received from a loved one who sadly passed away during your marriage.

What constitutes a valid postnuptial agreement in the state of Tennessee?

Generally speaking, a legitimate postnuptial agreement should fully disclose all your and your spouse’s assets and debts. Hiding certain assets and debts means you and your spouse may enter into this agreement without a fully encapsulated knowledge of what they are signing up for. This may not only be deemed as illegitimate, but illegal.

In a similar vein, you and your spouse must voluntarily enter this agreement, without the presence of coercion, duress, or undue influence. Ultimately, once your postnuptial agreement is drafted, reviewed, and revised thoroughly, it must be signed by both you and your spouse. Your signatures must be notarized, and you and your spouse should each save a copy.

If you are looking for more clarity on the matter, please allow one of the talented Clarksville family lawyers to offer it to you. Schedule an appointment with Fendley and Etson today.