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Tuesday, June 27, 2006
Post-Nuptial Agreements on the Rise
On a subject related to prenups, there's news that more couples in south Florida at least are turning to the prenup's lesser-known cousin, the post-nuptial agreement.
According to the Palm Beach Post, more and more family law attorneys in South Florida are being asked to help couples sign these agreements, which are exactly like prenups except, of course, for the timing.
Just as with prenups, many post-nups are negotiated by couples who are marrying for the second, third - or more - time. Quite often they do so at the insistence of adult children who want to keep inheritances from their parents intact and not shared with step-relatives.
Post-nups are especially useful in Florida, where widows and widowers can challenge a spouse's will and lay claim to a third of the spouse's estate, which could throw a monkey wrench in any inheritance bequest. A post-nup closes that loophole and protects the kids' inheritance from any surprise attack by step-mom.
Post-nups also - like the Kidman-Urban agreement above - contain what I call "relationship clauses" that are designed to ensure the couple remain married. This could include penalties if one of the spouses is unfaithful.
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