Holding on to what was in terms of your marriage is an uphill battle. The truth is, your married life has changed, no matter how you look at it. Certain situations might lead you to consider a postnuptial agreement.
As you ponder whether to draft one, you might question if it’s truly necessary. Here are some factors to consider before answering that question.
When to take advantage of postnuptial agreements
Changes in life circumstances often make getting a postnuptial agreement warranted. As your life evolves, so do your financial and familial circumstances. A postnuptial agreement can help address these changes and protect your interests. For instance, if you start a successful business after marriage, a postnuptial agreement can help protect this asset in the event of a divorce.
Postnuptial agreements can also help in situations where a divorce is looming. A well-crafted postnuptial agreement can simplify the divorce process and make the division of assets clear and straightforward. If you’re considering separation, a postnuptial agreement can outline the division of assets, potentially reducing conflict and making the process smoother.
Virginia family laws can be complex
Virginia allows married couples to enter into postnuptial agreements to settle their rights and obligations. However, these agreements must meet specific legal criteria to be valid. For instance, a postnuptial agreement should be in writing, signed by both parties and entered into without coercion. Additionally, it shouldn’t be unconscionable. An unconscionable postnuptial might include the following characteristics:
- One party had significantly more bargaining power than the other during the negotiation process.
- The agreement was not fully disclosed or understood by both parties.
- The terms of the agreement are more in favor of one party.
- One party was pressured or threatened into signing the agreement against their free will.
Virginia family laws can be complex, and a poorly drafted agreement may not hold up in court. So, when drafting a postnuptial agreement, consider seeking the help of a legal professional. A legal professional can help create one that is not only legally sound but also fair to both parties.
