Navigating Postnuptial Agreements
Many couples are confused about postnuptial or separation agreements, thinking them alike, but a separation agreement isn’t a divorce settlement. Marital separation agreements are also known as property settlement agreements and cover property division, the rights of each partner, alimony and child support or child custody. You can have this agreement drawn up while you’re still married. In Georgia, such an agreement shows the court that your divorce is uncontested, and can simplify the proceedings.
A Postnuptial Agreement Can Protect Your Finances
Unlike a separation agreement, a postnuptial agreement is not only for a divorcing couple. A leading cause of divorce is financial struggle, and a postnuptial agreement can actually help a couple remain together. Clarifying finances or defining rights and responsibilities can prevent divisive issues down the road. One partner may start a business years into the marriage, or one partner may decide to stop working and stay home to raise the children. A postnuptial agreement can prevent clashes in such situations. For answers about a postnuptial or separation agreement, the Teiger Law Center, P.C., in Alpharetta or Cumming will be happy to sit down with you to discuss your options.
We Can Explain Separation Agreements
As with prenuptial agreements, the laws governing postnuptial and separation agreements vary from state to state. For example, Georgia is an equitable distribution state, meaning that all property acquired during marriage, divided into marital property and nonmarital property, is divided according to need and other considerations, in order to leave each side evenly compensated. Additionally, an Atlanta-area court might rule for equal division of debts or for one partner to pay all debts. Knowledge of these and other laws is vital in executing a postnuptial or separation agreement.
Whether a couple petitions for a postnuptial agreement during a marriage to protect assets and define rights, or draw up a separation agreement to facilitate an uncontested divorce, the agreement needs to be legal and useful. We can also help you draft a solid prenuptial agreement. When drafting or executing a postnuptial or separation agreement, the Teiger Law Center, P.C., will protect your interests.