You can write a Postnuptial Agreement by using LawDepot’s customizable document. Fill out the questionnaire with the following information:
First, start by providing both spouses’ names and home addresses.
2. List of assets
Provide a list of assets as follows:
- Separate assets: Separate assets are owned by one party who will retain control in case of separation or divorce.
- Shared assets: Shared assets are assets that the parties co-own. In the event of a breakup, shared assets are typically divided between spouses, or one party pays half of the asset's value to the other party.
Many assets become shared property once a couple gets married. These shared assets may include:
- Real estate property purchased during the marriage
- Retirement savings or retirement plans
- Stocks purchased during the marriage
You can determine how to divide these assets and any future shared property in your Postnuptial Agreement.
3. Division of shared assets
Determine and specify the division of the shared assets. By default, courts will distribute assets either 50/50 or equitably (i.e., fairly).
Equitable distribution doesn't always result in a 50/50 split. The default method will depend on your state. You can also choose to divide a shared asset based on each spouse’s financial contribution toward the asset.
4. List of debts
Provide a list of debts as follows:
- Separate debts: Each party is solely responsible for their separate debt in case of a breakup, such as student loans, personal loans, or personal credit card balances.
- Joint debts: Joint debts (also known as shared debts) are those that both parties are legally responsible for in case of a breakup, such as co-signed loans, joint credit cards, and mortgages.
5. Division of shared debts
Determine and specify the division of the shared debts. Most spouses split shared debts equally.
Provide information for the dependent children from the current marriage and those from previous relationships. A dependent child is a biological or adopted child that the parents are legally obligated to support. Generally, a dependent refers to a child under 18 years who is under the care of an adult.
Including dependent children in Postnuptial Agreements is essential because they can have an inheritance or other rights that could impact the agreement.
7. Spousal support terms
Outline the terms for spousal support. Spousal support is a financial payment made by one spouse to the other in the event of separation and is also known as alimony or spousal maintenance. Spousal support helps the spouse with a lower income maintain their standard of living until they can earn a higher income to support themselves.
The amount and length of spousal support payments depend on several factors, such as:
- The marriage’s duration
- The lower-earning spouse’s future earning potential
- Individual contributions during the marriage
- Each party’s health
Addressing spousal support in your Postnuptial Agreement is entirely optional. If you don't decide on spousal support, the applicable state or federal laws will determine your spousal support in the event of a divorce.
8. Terms of surviving spouse's inheritance
Depending on your circumstances, you may restrict what you and your spouse can inherit from each other’s estate. People may restrict their spouse’s inheritance because they wish to leave their estate to other parties. For example, if you want to ensure the care of your children from a previous relationship, you may restrict your spouse’s inheritance.
Restricting a surviving spouse’s inheritance means they will only inherit what their spouse's Last Will or the Postnuptial Agreement states. It also means that they agree not to claim the other’s estate.
9. Additional clauses
LawDepot’s questionnaire allows you to add additional clauses to a Postnuptial Agreement. The types of terms that you should not address include:
- Anything illegal or immoral, such as clauses detailing any illegal acts or requirements
- Child custody or visitation terms
- Parenting rights
- Child support terms
- Any terms that may not be in the best interests of your children
- Unfair terms that favor one spouse over the other
- Any terms regarding physical appearance
- Clauses about infidelity or chastity