Postnuptial Agreement Similar to a prenuptial agreement but entered into after marriage, it specifies financial matters and asset division in the event of separation.
This Postnuptial Agreement (hereinafter referred to as the "Agreement") is entered into by and between:
Alex Bolt, hereinafter referred to as "Party A", and
Emily Kent, hereinafter referred to as "Party B".
Each individually referred to as a "Party" and collectively known as the "Parties."
Whereas, the Parties were lawfully married under the laws of the United States of America on the ____ day of ________, 20_____, and
Whereas, the Parties desire to define and clarify their respective rights and obligations concerning the distribution of assets, debts, and financial support in the event of marriage dissolution, legal separation, or divorce;
Now, therefore, in consideration of the mutual promises contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
2.1. Financial Disclosure
The Parties have made full, true, and accurate disclosure to each other of their individual financial circumstances prior to the execution of this Agreement, including but not limited to, all assets, liabilities, income, and expectations of gifts or inheritances. Each Party acknowledges that they understand and accept the financial circumstances of the other Party as set forth in this Agreement.
2.2. Independent Legal Counsel
Each Party acknowledges that they have had the opportunity to engage independent legal counsel at their own expense and has had the contents of this Agreement explained to them by their respective legal counsel.
2.3. Voluntary Agreement
Each Party acknowledges that they have entered into this Agreement freely and voluntarily and not under duress or undue influence, and further acknowledges that they understand the legal consequences of this Agreement.
3.1. Maintenance of Separate Property
Except as otherwise specifically agreed to in this Agreement, each Party shall maintain as their separate property, all property and financial interests owned or held by them before the date of marriage and any property obtained by them after the date of execution of this Agreement, including, but not limited to, gifts, inheritances, and proceeds from the sale or disposition of separate property (collectively "Separate Property"). Separate Property shall not be subject to distribution in the event of dissolution, legal separation, or divorce.
3.2. Liability for Separate Debts
Except as otherwise specifically agreed to in this Agreement, each Party shall be solely responsible for the payment of any separate debts incurred by them before or after the date of execution of this Agreement. Separate debts shall include, but not be limited to, any debts or liabilities incurred in relation to the acquisition, maintenance, or disposition of separate property.
4.1. Equitable Distribution of Marital Property
In the event of dissolution, legal separation, or divorce, the Parties shall equitably divide all property acquired or held during the marriage which is not deemed to be separate property as defined in section 3.1 of this Agreement ("Marital Property"). The equitable distribution of Marital Property shall be subject to the laws governing the division of marital property in the jurisdiction where the dissolution, legal separation, or divorce is filed.
4.2. Liability for Marital Debts
Except as otherwise specifically agreed to in this Agreement, the Parties shall be jointly and severally liable for the payment of any debts or liabilities incurred during the marriage and not deemed to be separate debts as defined in section 3.2 of this Agreement ("Marital Debts"). The apportionment of responsibility for the payment of Marital Debts shall be subject to the laws governing the allocation of marital debts in the jurisdiction where the dissolution, legal separation, or divorce is filed.
5.1. Waiver of Spousal Support
Subject to the laws governing spousal support in the jurisdiction where the dissolution, legal separation, or divorce is filed, the Parties hereby waive any and all rights to receive spousal support, alimony, or maintenance from one another, either temporary or permanent, in the event of dissolution, legal separation, or divorce.
5.2. Modification of Existing Agreements
The terms of this Agreement shall supersede and replace any prior agreement or understanding between the Parties concerning spousal support, whether written or oral, and any such prior agreement or understanding shall be deemed null and void upon the execution of this Agreement.
6.1. Governing Law
This Agreement shall be governed by and construed under the laws of the United States of America.
6.2. Entire Agreement
This Agreement constitutes the entire understanding between the Parties concerning the subject matter hereof, and supersedes all prior agreements and understandings, whether oral or written.
6.3. Amendments
This Agreement may only be modified or amended by a written agreement executed by both Parties.
6.4. Severability
If any provision of this Agreement is held to be invalid, illegal, or unenforceable, the remaining provisions shall remain in full force and effect without being impaired or invalidated in any way.
6.5. Counterparts
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same agreement.
6.6. Binding Effect
This Agreement shall be binding upon and inure to the benefit of the Parties and their respective heirs, executors, administrators, legal representatives, successors, and assigns.
The Parties have executed this Agreement on the dates set forth below, to be effective as of the date first above written.
______________________________ ______________________________
Alex Bolt (Party A) Emily Kent (Party B)
Date: _____________________ Date: _____________________
In this Postnuptial Agreement, you will see the following sections:
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