|
Post-Marital Agreements
A post-marital or post-nuptial agreement is similar to a
pre-marital agreement except that the parties make the agreement
after they are married. There is no strict requirement for either
party to have an attorney review these agreements but it is a very
good idea. The services of an attorney knowledgeable in these
matters can help prevent misunderstandings and mistakes from
happening that may only become evident in the midst of a
divorce
or probate proceeding.
In North Carolina, there are three critical elements to a
post-nuptial agreement:
1. For a post-nuptial agreement to be binding, it must be
in writing.
2. It cannot be inconsistent with public policy. In
other words, such an agreement will not be enforced if it contains
provisions that may be detrimental to the public good.
3. It must be signed by a certifying officer. A certifying
officer is a notary public or a justice, judge, magistrate, clerk,
assistant clerk or deputy clerk of the General Court of Justice
for North Carolina or the equivalent or corresponding officer of
the state or foreign country where the acknowledgment is made.
These agreements may touch on many areas of law and can be
complex, especially in the case of pensions. For example, if
spouses are making agreements affecting their respective rights to
pension benefits, they must comply with the United States Code
(federal law). These can be complicated issues and it is always
best to have an attorney familiar with the law draft the
agreement.
“Post-nups” enable married couples who aren't satisfied
with the divorce laws in their state to structure their own
settlement, so they can allocate their property and income as they
see fit. Most states employ the "equitable distribution"
method for splitting up assets in divorce: Assets are split
equitably – not equally – with courts having the ultimate
authority to decide what is fair under the circumstances.
You and your spouse can also enter into a written agreement
after marriage overriding our North Carolina property law, whether
or not you are contemplating separation. In fact, a post-nuptial
agreement is most easily negotiated before there is even any talk
at all of separation. If your spouse presents you with a
post-nuptial agreement, telling you the contract is just for
estate planning purposes, you would be well advised to discuss the
draft agreement with an attorney. The attorney can point out what
you might be giving up if you sign the proposed agreement. Just
because you don't view your spouse as a potential adversary
doesn't mean that your spouse holds the same view. Your mate may
be planning for a separation that you don't yet know is in the
cards.
When a man and woman are married (instead of just contemplating
marriage), they may be held to a very high standard of fairness
when dealing with each other on financial issues--perhaps a higher
standard than would be the case if they were entering into a
premarital agreement.
It is not only good practice to get legal advice before signing
any marital agreements, it is in your best interest.
< Back to Virtual Library
|