Postnuptial Agreement South Carolina
Postnuptial Agreement South Carolina: Everything You Need to Know
In South Carolina, a postnuptial agreement is a legal document that is signed by a married couple after they have tied the knot. This contract allows the couple to determine how their assets and debts will be divided if they decide to separate or divorce in the future.
Why Get a Postnuptial Agreement in South Carolina?
There are various reasons why a married couple may consider getting a postnuptial agreement in South Carolina. One common reason is to protect individual assets that were acquired before the marriage. With a postnup, a spouse can ensure that their premarital assets remain their own in case of a divorce.
Another common reason why South Carolina couples opt for a postnup is to divide property acquired during the marriage. This includes assets such as real estate, investments, and retirement accounts. With a postnuptial agreement, couples can determine their own terms for dividing marital property in the event of a divorce.
Lastly, some couples choose to get a postnuptial agreement to set terms for alimony or spousal support. This is especially important for high-earning spouses who may wish to protect themselves from paying excessive alimony payments in case of a separation or divorce.
How to Create a Postnuptial Agreement in South Carolina
To create a postnuptial agreement in South Carolina, both spouses must agree on the terms and sign the document in front of two witnesses. It is also recommended that both parties hire their own attorneys to review the document before signing it.
The agreement must be in writing and include:
• A statement that both parties have given full disclosure of their assets and debts
• A list of all assets and debts of the parties
• A statement of how the property will be divided in case of a divorce or separation
• A statement on spousal support or alimony if applicable
• Signatures of both parties and two witnesses
It is important to note that a postnuptial agreement cannot be used to determine child custody or child support.
Enforcing a Postnuptial Agreement in South Carolina
For a postnuptial agreement to be enforceable in South Carolina, it must be fair and reasonable at the time of signing. It must also not be the result of fraud, duress, or coercion.
If one spouse challenges the validity of the postnup during a divorce or separation, the court will review the agreement and determine if it is enforceable. The court will consider factors such as the fairness of the agreement, the circumstances under which it was signed, and whether both parties had the opportunity to review the agreement with an attorney before signing it.
Conclusion
A postnuptial agreement in South Carolina can be a useful tool for couples who wish to protect their financial interests and avoid lengthy and costly legal battles in case of a divorce or separation. It is important to consult with an experienced family law attorney when creating a postnup to ensure that it is fair and enforceable in court.