What is the Difference Between a Prenuptial and Postnuptial Agreement?
Both prenuptial and postnuptial agreements govern the distribution of a couple’s property if the marriage ultimately ends in divorce. An engaged couple enters into a prenuptial agreement prior to their marriage. In most cases, the couple’s intent in entering into a prenuptial agreement is to protect their separate assets or items of property that each spouse is bringing to the marriage. These assets might include an inheritance or a share in a family-owned business. However, they also may wish to protect certain assets for adult children from previous marriage or relationship. A prenuptial agreement allow the couple to keep their separate or premarital property separate and from being characterized as marital property in the event of a divorce.
On the other hand, a postnuptial agreement is a contract that a couple enters into at some point after their marriage. Typically, parties decide to enter into a postnuptial agreement if they obtain a major asset or open a business during their marriage. The postnuptial agreement governs what happens to these assets if the parties ultimately decide to divorce.
Georgia law recognizes the validity of both prenuptial and postnuptial agreements. Making either of these documents legally valid usually requires that both parties fully disclose all of their assets and financial information, obtain separate legal representation, that each party be treated fairly in the agreement, and that each party have sufficient time to consider the agreement before signing it.
Atlanta property division can be difficult, particularly when a prenuptial or postnuptial agreement is involved. A Georgia divorce lawyer can make all the difference in giving you the knowledge necessary to make informed decisions about your divorce and property division.
Contact us or call today to learn how Shaw Law can work with you to achieve the best outcome possible for you and your children.
Scott Shaw is founder and principle of Shaw Law Firm LLC, founded in 1995 and dedicated solely to divorce, family law and child custody matters that must be addressed and decided in the state of Georgia. Shaw Law Firm serves the greater Metro Atlanta area, particularly the counties of Fulton, Gwinnett, Cobb, Cherokee, Forsyth, Paulding, Henry, Fayette, Coweta, Newton, Walton, Bartow and Douglas. Schedule a consultation today at 770-594-8309.