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What should you include in a postnuptial agreement?

On Behalf of | Dec 9, 2020 | High-net Worth Prenuptial And Postnuptial Agreements |

Over the course of your marriage, you may find yourself with access to more resources than you had initially. In this situation, you may want to create a postnuptial agreement. However, you may wonder what kind of information you should include in this document.

You can write a postnuptial agreement that covers several aspects of your married life.

Child custody and support

According to Forbes, your postnuptial agreement can include information about a custody arrangement. You can also specify who will pay child support and what these payments might look like. A postnup provides an opportunity for you and your spouse to find a good arrangement for your children before a situation becomes tense. In the event of a divorce, you can change these terms if they do not match your current circumstances

Spousal support

You can also use your postnup to determine what a fair amount of spousal support looks like. Does your spouse work or stay at home to take care of your family? Does your spouse have access to extensive resources or will your spouse need help to maintain your standard of living? These questions can help you establish a plan for spousal support.

New business arrangements

If you began your own business, a postnuptial agreement can help you protect this business. You can include information about how much share your spouse has in the company and whether your spouse has an obligation to pay business debts. Additionally, you can specify which method you will use to appraise your company. This can help prevent conflict in the event of a divorce.

No one plans to get a divorce, but if you find yourself in this situation, a postnuptial agreement can make the process easier for your whole family.