Postnuptial Agreement - Template, Sample Form Online Pro · US-law
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POSTNUPTIAL AGREEMENT
State of ________
THIS POSTNUPTIAL AGREEMENT (the “Agreement”) is made and entered into on ________ (the “Effective Date”),
BY AND BETWEEN:
________, residing at ________ (“Spouse 1”);
-AND-
________, residing at ________ (“Spouse 2”).
RECITALS
A. This Agreement is made between ________ and ________ (collectively the “Parties” and each individually a “Party”), who were lawfully married to each other on ________ in ________, and who remain married as of the Effective Date.
B. The Parties intend for this Agreement to become effective upon execution by both Parties pursuant to the laws of the State of ________ and any other applicable law, including, where adopted, the Uniform Premarital and Marital Agreements Act.
C. The Parties wish to enter into this Agreement to provide for the status, ownership, and division of both current and future property acquired by either or both of them, and to define their respective rights and obligations during the marriage and upon its termination.
D. The Parties further wish to describe their respective rights and liabilities that may arise as a result of their marital relationship.
E. The Parties acknowledge and agree that in the event of future disagreement or dispute, the distribution of any property that either or both of them own shall be governed by the terms of this Agreement and, to the fullest extent permitted by statutory and case law, they intend that any statute that might otherwise apply to them, whether by virtue of federal or state law, will not apply to them.
F. The Parties acknowledge that each has been provided with a reasonable period of time to review this Agreement prior to signing.
G. The Parties acknowledge that each has had the opportunity to retain separate, independent legal counsel of their own choosing concerning the terms of this Agreement, and that each has either obtained such counsel or knowingly and voluntarily waived the right to do so.
H. The Parties have each made to the other a fair and reasonable disclosure, to their mutual satisfaction, of all assets, property, income, and financial obligations that each may have, as set forth in the written schedules of assets and liabilities attached hereto and incorporated herein, and each Party voluntarily and expressly waives any right to further or additional disclosure beyond that already provided.
I. Each Party represents, acknowledges, and affirms the following:
1. Both Parties executed this Agreement voluntarily and of their own free will;
2. This Agreement was not unconscionable when executed;
3. Prior to execution, both Parties were provided with a fair and reasonable disclosure of the property and financial obligations of the other Party;
4. Each Party had, or reasonably could have had, adequate knowledge of the property and financial obligations of the other Party; and
5. Each Party entered into this Agreement freely, with full understanding of its terms, and without duress, fraud, coercion, or undue influence by the other Party.
J. The Parties acknowledge that this Agreement will remain in force upon termination of the marriage, whether by divorce, legal separation, death, or otherwise.
NOW THEREFORE, in consideration of the marriage relationship, the mutual promises and covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties agree as follows:
I. PROPERTY
1. The Parties agree that this Agreement shall govern the determination of ownership of property in the event the Parties separate, divorce, or upon the death of a Party.
2. Except as otherwise provided in this Agreement, all property owned by one Party before the marriage that did not become joint property after the marriage shall remain that Party's separate property. Such separate property includes:
- All property, whether real or personal, the income, rents, profits, and proceeds from such property, and all investments and reinvestments thereof; and
- All property acquired by either Party by gift, devise, bequest, or inheritance, together with the income and proceeds thereof.
3. Neither Party shall, during the marriage, acquire for themselves, or for their assignees or creditors, any interest in the separate property of the other Party, nor any right to use, control, benefit from, or dispose of such property without the written consent of the owning Party.
4. Each Party shall have the right, at all times, to dispose of or encumber any or all of their separate property by deed, sale, gift, trust, will, mortgage, lien, or any other form of conveyance or encumbrance, without limitation, upon their own individual signature or act and without the necessity of action, joinder, or consent by the other Party.
5. Where a Party (the “Owner”) dealing with their own separate property requires or desires the other Party (the “Non-Owner”) to sign a document for the purpose of relinquishing any apparent right to such property arising solely from the marital relationship, the Non-Owner agrees, upon request, to sign such document solely for that purpose. Execution of any such document shall not impose any personal liability on, nor confer any right to the property upon, the Non-Owner.
6. All future jointly acquired or jointly held property, and the jointly owned property existing as of the Effective Date, described below, however and whenever acquired, shall remain the property of and be owned by both Parties and shall be treated as shared property (the “Shared Property”):
________
7. In the event the Parties separate, divorce, or upon the death of a Party, all Shared Property shall be deemed owned equally, and each Party shall be entitled to fifty percent (50%) of the net equity thereof, regardless of the initial or ongoing proportion of each Party's contribution, unless the Parties have agreed otherwise in a writing signed by both Parties.
II. MARITAL EARNINGS
8. All earnings, salaries, wages, commissions, income, pensions, retirement benefits, stock, stock options, and other employee benefits resulting from the personal services or labor of either Party shall be and remain the sole and separate property of the earning Party. Each Party voluntarily relinquishes all interest in such property of the other.
9. Each Party understands that, but for this Agreement, such earnings might be considered marital or joint property, and that by this Agreement, such earnings during the marriage are made the separate property of the Party who earned them.
10. It is anticipated that the earnings described in this Article may be used for joint household expenses or other joint purposes. Such use shall not be construed to imply or create joint ownership of those earnings.
III. DEBTS
11. The Parties affirm that this Agreement shall govern the determination of responsibility for debts in the event the Parties separate, divorce, or upon the death of a Party.
12. Except as otherwise provided in this Agreement, any debt incurred by either Party prior to the marriage shall remain the separate debt of, and owed solely by, the Party who originally incurred it.
13. All future jointly acquired or jointly held debts, and the currently shared debts described below, however and whenever incurred, shall remain the debts of and be owed by both Parties and shall be treated as shared debts (the “Shared Debts”):
________
14. In the event the Parties separate, divorce, or upon the death of a Party, all Shared Debts shall be deemed equally the responsibility of both Parties, and each Party shall assume fifty percent (50%) of the Shared Debts, unless the Parties have agreed otherwise in a writing signed by both Parties.
IV. MARITAL RESIDENCE
15. It is the intention of the Parties that the residence held in the name(s) of ________, located at the following address:
________
16. shall be altered and affected by this Agreement in the following manner:
________
17. The expenses associated with the maintenance of the residence shall be paid as follows: rental, mortgage, and/or maintenance payments shall be made by ________.
V. JOINT EXPENSES
18. Each Party agrees to contribute an equal amount toward payment of the joint expenses, unless the Parties otherwise agree in writing.
19. Joint expenses include the following:
________
20. Nothing in this Agreement shall limit the obligation of each Party to contribute such further amounts as are reasonable and necessary from time to time for the above purposes.
VI. MARITAL PROPERTY RELEASE
21. The Parties covenant and agree that they are aware of the equitable distribution and property division laws of the State of ________, and that it is their intention that these laws shall not apply to the status, ownership, interest, or division of their property, whether jointly or separately owned, nor to their future property, whether real or personal, owned by either or both of them, except to the extent such waiver is prohibited by applicable law.
22. The Parties covenant and agree that it is their desire and intent, by the terms of this Agreement, to contract out of such equitable distribution laws of the State of ________, and to make a full and final settlement of all matters of property, both real and personal, previously and presently owned by either Party or to be acquired by either Party in the future, to the fullest extent permitted by law.
VII. TAXES
23. Nothing in this Agreement shall be construed as waiving any right of the Parties to report their income for federal or state income tax purposes in the same manner as permissible for any other married persons, any right provided for spouses under the federal gift tax laws with reference to gifts, or any right under the federal estate tax laws with reference to any transfer to which such laws may apply.
24. If the Parties elect to file federal and state income tax returns jointly, rather than separately, such election shall not create any community property, marital property, or other rights or interests in contravention of this Agreement.
25. If the Parties elect to file a joint income tax return during their marriage, each shall be liable for any and all taxes associated with their respective separate property, if applicable.
VIII. CHILDREN
26. ________ has the following child from a previous relationship: ________, born on ________.
27. ________ has the following child from a previous relationship: ________, born on ________.
28. ________ and ________ have the following child together: ________, born on ________.
29. ________, for so long as married to ________, shall provide a home and reasonable support for the health, education, maintenance, and support of ________'s dependent child from a previous relationship, without thereby establishing any legal obligation to continue to do so upon separation or dissolution of the marriage.
30. ________, for so long as married to ________, shall provide a home and reasonable support for the health, education, maintenance, and support of ________'s dependent child from a previous relationship, without thereby establishing any legal obligation to continue to do so upon separation or dissolution of the marriage.
32. In the event the Parties separate or divorce, and subject to the approval of a court of competent jurisdiction, ________ intends to retain sole physical and legal custody of their child from a previous relationship.
33. In the event the Parties separate or divorce, and subject to the approval of a court of competent jurisdiction, ________ intends to retain sole physical and legal custody of their child from a previous relationship.
34. In the event the Parties separate or divorce, and subject to the approval of a court of competent jurisdiction, the Parties intend that any child born of their relationship reside with both parents under a joint custody arrangement, in accordance with the following visitation and parenting time schedule:
a. Regular Visitation Schedule:
________
b. Vacation and Holiday Schedule:
________
35. In the event the Parties separate or divorce, and subject to the approval of a court of competent jurisdiction, the Parties intend a joint legal custody arrangement for any child born of their relationship, with both parents sharing the right and responsibility to decide matters of welfare, education, and health in the child's best interests.
IX. SPOUSAL SUPPORT
36. ________ shall pay spousal support to ________ in the amount of $________ (________) payable ________, continuing until the death of either Party or such other terminating event as the Parties may specify or as required by law.
37. Spousal support payments shall be paid on the ________ day of each applicable period.
X. SEVERABILITY
39. If any term, covenant, condition, or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, it is the Parties' intent that such provision be reduced in scope by the court only to the extent deemed necessary to render the provision reasonable and enforceable.
40. The remainder of the provisions of this Agreement shall in no way be affected, impaired, or invalidated as a result, and shall continue in full force and effect to the fullest extent permitted by law.
XI. WAIVER
41. The failure of either Party to enforce any provision of this Agreement shall not be construed as a waiver or limitation of that Party's right to subsequently enforce and compel strict compliance with every provision of this Agreement.
XII. INTENTION OF THE PARTIES
42. Notwithstanding that the Parties acknowledge their circumstances at the execution of this Agreement may change for many reasons, including, without limiting the generality of the foregoing, the passage of years, it is nonetheless their intention to be bound strictly by the terms of this Agreement at all times.
XIII. DUTY OF GOOD FAITH
43. This Agreement creates a relationship in which each Party agrees to act with the utmost good faith and fair dealing toward the other in all aspects of this Agreement.
XIV. FURTHER DOCUMENTATION
44. The Parties agree to provide and execute such further documentation as may be reasonably required to give full force and effect to each term of this Agreement.
XV. TITLE/HEADINGS
45. The headings of this Agreement form no part of it and shall be deemed to have been inserted for convenience only.
XVI. GOVERNING LAW
46. The laws of the State of ________ shall govern the interpretation, validity, and enforcement of this Agreement, and the status, ownership, and division of property between the Parties, wherever either or both of them may from time to time reside. Any action or proceeding arising out of or relating to this Agreement shall be brought in the courts located in ________ County, State of ________.
XVII. TERMINATION OR AMENDMENT
47. This Agreement may only be terminated, modified, or amended by a writing signed by both Parties with the same formalities as the execution of this Agreement.
XVIII. INDEPENDENT LEGAL COUNSEL
48. Each Party acknowledges that this Agreement affects valuable legal rights. Spouse 1 has been represented by ________, and Spouse 2 has been represented by ________. To the extent a Party has elected not to retain independent counsel, that Party acknowledges that such election was made knowingly and voluntarily after being advised of the right and opportunity to do so.
XIX. ENTIRE AGREEMENT
49. This Agreement, together with all schedules of assets and liabilities attached hereto, constitutes the entire agreement and understanding between the Parties and supersedes all prior communications, contracts, or agreements between the Parties with respect to the subject matter addressed herein, whether oral or written.
IN WITNESS WHEREOF, the Parties have duly affixed their signatures as of the dates set forth below.
SIGNED by ________:
_________________________________
________
____________________
DATE
In the presence of:
_________________________________
WITNESS
_________________________________
WITNESS
SIGNED by ________:
_________________________________
________
____________________
DATE
In the presence of:
_________________________________
WITNESS
_________________________________
WITNESS
ACKNOWLEDGMENT
State of ________
County of ________
On this ________ day of ________, ________, before me, the undersigned Notary Public, personally appeared ________, personally known to me or proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the foregoing Postnuptial Agreement, and acknowledged to me that they executed the same of their own free will and volition, for the purposes therein contained, and without any force, fraud, duress, or undue influence by any Party.
WITNESS my hand and official seal.
______________________________
NOTARY PUBLIC
My commission expires: ________
ACKNOWLEDGMENT
State of ________
County of ________
On this ________ day of ________, ________, before me, the undersigned Notary Public, personally appeared ________, personally known to me or proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the foregoing Postnuptial Agreement, and acknowledged to me that they executed the same of their own free will and volition, for the purposes therein contained, and without any force, fraud, duress, or undue influence by any Party.
WITNESS my hand and official seal.
______________________________
NOTARY PUBLIC
My commission expires: ________
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