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Is my financial breakdown in the post nuptial acceptable?

Is my financial breakdown in the post nuptial acceptable?
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Answered in 20 minutes by:
3/18/2018
Attorney Wendy
Category: Legal
Satisfied Customers: 1,413
Experience: Member at Keefer & Keefer LLC
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Yes, you can always add more detail (e.g., identify the bank at which bank accounts are held or funds for 401(k)), but there are pros and cons to that. The pro is the property is clearly identified and, when it is tangible (real estate, personal property), that can be fine. When it is liquid assets, it can cause confusion if you move the money. If your current on hand cash is held in an account at Bank of America but you decide you want to move it to Citibank, you don't want to have the issue that you said the Bank of America account was your separate property so now maybe the Citibank one is marital. The key is that you both understand what is included in the list of property that will remain with the other. The one area of assets you may want to consider is general personal property (e.g., any family heirlooms, nice furniture, jewelry, art work and the like). And, as a final note, it is a good idea to revisit your lists on a regular basis and consider updating them and signing the updates so that it stays clear throughout what property acquired during the marriage is staying separate - but that will depend on your relationship and the willingness of both parties to do so. In any event, you can keep an annual update so you have that documentation should you need it in the future. And, with any marital agreement, there is always a chance the court can decide it is not fair to one party, so the clearer you are with each other at the beginning, the better.

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This information is for educational purposes only and is not legal advice. No course of action is being proposed and no attorney-client relationship or privilege has been formed as a result of this conversation.

Attorney Wendy
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Experience: Member at Keefer & Keefer LLC
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