At Shawna L Stevens PLLC, we understand that family law matters require sensitivity, compassion, and expertise. Today, we will discuss the benefits of a postnuptial agreement in Fredericksburg and how it can help protect your interests, assets, and financial future.
A postnuptial agreement, also known as a marital agreement, is a legally binding contract entered into by spouses after their marriage. According to the Virginia Code §20-151, marital agreements must be in writing and signed by both parties to be enforceable. These agreements can address various aspects of the marriage, including property division, spousal support, and other financial matters.
While the idea of a postnuptial agreement may not seem romantic, it can provide several benefits to both spouses:
Protecting Separate Property: A postnuptial agreement can clearly define which assets are considered separate property, ensuring they are not subject to division in the event of a divorce. According to Virginia Code §20-107.3, separate property includes any property acquired before marriage, gifts or inheritances, and property acquired during the marriage in exchange for or from the proceeds of separate property.
Clarifying Financial Responsibilities: Couples can use a postnuptial agreement to outline each spouse’s financial responsibilities during the marriage, such as how household expenses will be divided or how joint investments will be managed. This can help reduce potential financial disputes and promote transparency in the relationship.
Addressing Spousal Support: A postnuptial agreement can also establish the terms of spousal support in the event of a divorce. Virginia Code §20-107.1 provides guidelines for determining spousal support, but a valid postnuptial agreement can modify these guidelines, allowing the couple to agree on a specific amount or duration of support that is fair and reasonable.
Simplifying the Divorce Process: In the unfortunate event of a divorce, a postnuptial agreement can streamline the process by predetermining issues like property division and spousal support, making the divorce less contentious and costly.
Promoting Open Communication: Creating a postnuptial agreement encourages couples to have open and honest discussions about their finances, assets, and expectations. This can strengthen the marital relationship and foster trust between spouses.
If you are considering a postnuptial agreement in Fredericksburg, the experienced attorneys at Shawna L Stevens PLLC can guide you through the process and help you craft an agreement that meets your unique needs and circumstances. Reach out to us today to discuss your options and protect your future together.