By: Betty Moore Sandler, AAML, IAFL, Partner with Nichols Zauzig Sandler, P.C
More couples are entering into post-marital agreements than ever before, according to the American Academy of Matrimonial Lawyers. (AAML) In the past three years, half of all family lawyers who responded to a survey say post-nuptial agreements are on the rise.
A post-nuptial agreement is a voluntary contractual relationship between spouses about how assets and liabilities would be divided due to death or divorce. It is not necessary to have a pre-nuptial agreement in place in advance.
Virginia recognizes post-nuptial agreements, and the reasons behind couples seeking them vary, including:
One or both of the spouses have children from prior relationships and want to ensure assets go to them.
Since the time of the marriage, one of the spouses has formed a business partnership and wants to protect it from the potential financial impacts of a divorce.
One spouse steps out of the workplace to care for the couple’s children or another relative and wants to ensure financial security.
An unexpected inheritance, or another source of income, arises that significantly changes the financial status of one of the spouses
If an existing pre-nuptial agreement is in place, couples experience a change in fortune or circumstance often wish to update the agreement to reflect the changes.
It is recommended couples be represented by separate counsel when pursuing post-nuptial agreements. In all cases, the quality of the agreement is dependent upon the clarity and defensibility of the legal document.
As a family law attorney experienced in preparing such complex documents, I welcome your phone call or email to begin the process of moving forward with a post-nuptial agreement. Please call 703-492-4200 for an appointment in Stafford, Prince William or McLean. You may also request an appointment using the email contact form on our website.
DISCLAIMER: The results of every case depend on factors unique to that case, and NZS Law does not guarantee or predict results in similar cases.