Postnuptial agreement

Postnuptial agreement,

Definition of Postnuptial agreement:

  1. A postnuptial agreement is a contract created by spouses after entering into marriage that outlines the ownership of financial assets in the event of a divorce. The contract can also set out the responsibilities surrounding any children or other obligations for the duration of the marriage.

  2. A postnuptial agreement is also known as a "post-marital agreement" or "postnup.".

  3. A formal agreement between married spouses or couples in a civil union, specifying the division of assets in the case of divorce or separation. The agreement may be used if for example, one spouse enters into a business, purchases real estate or makes some investment with his or her own money versus joint funds. Some states disallow waiver of alimony or child support in a postnuptial agreement.

Meaning of Postnuptial agreement & Postnuptial agreement Definition