Postnuptial Agreement NZ: What You Need to Know
Marriage is a beautiful institution, but sometimes things happen that can strain the relationship. In New Zealand, postnuptial agreements are becoming increasingly popular among couples who want to protect their assets and ensure that both parties are on the same page regarding finances should anything go wrong.
What is a postnuptial agreement?
A postnuptial agreement is a legal document signed by a married couple that outlines the division of assets and liabilities in the event of a divorce or separation. The agreement can also cover other aspects of the relationship, such as the division of household expenses, spousal support, and child custody.
Why should you consider a postnuptial agreement?
There are several reasons why you might consider a postnuptial agreement. Perhaps you or your spouse has received a significant inheritance, or maybe one of you has started a successful business. A postnuptial agreement can help protect those assets by outlining how they should be divided in case of a divorce or separation.
Additionally, a postnuptial agreement can help to promote transparency in the relationship. By discussing and agreeing on financial matters beforehand, both parties can feel more secure and confident in their marriage.
How to create a postnuptial agreement
Creating a postnuptial agreement in New Zealand is a legal process that requires the assistance of a lawyer. Each party should hire a separate lawyer to ensure that their individual rights and interests are represented.
The first step is to discuss what you want to include in the agreement with your lawyer. This might include things like property division, alimony, child support, and custody arrangements.
Next, your lawyer will draft the agreement, which will need to be reviewed and approved by both parties. Once both parties are satisfied with the agreement, they will need to sign it in the presence of their lawyers.
It`s important to note that postnuptial agreements are not foolproof. In some cases, a court may decide that the agreement is not enforceable, as it may be deemed unfair or unreasonable. However, having a postnuptial agreement in place can still provide a measure of protection and peace of mind.
In conclusion, a postnuptial agreement can be a valuable tool for protecting your assets and securing your financial future. If you`re considering a postnuptial agreement, it`s important to consult with a knowledgeable lawyer who can guide you through the process and help you create an agreement that works for both you and your spouse.