Divorce is now legal in Georgia for a married same-sex couple. Concerns always accompany the property division phase of the proceedings, which may turn into a contentious event.
If the couple signed either a prenuptial or postnuptial agreement, an efficient and less stressful division of assets is possible.
The prenuptial agreement
A signed prenuptial or premarital agreement precedes the wedding. The purpose is to establish how a couple will divide assets if there is ever a divorce. This kind of agreement is especially good for a same-sex couple to create because the parties may already have accumulated assets and debts together before deciding to marry. Their prenup will confirm which of the premarital assets and debts are joint property and which are separate.
A postnuptial agreement is one the parties sign after they are legally married. Sometimes, this occurs because of a significant event. For example, one of the parties may inherit a large sum of money and a postnup will address the disposition of this windfall, both during the marriage and in the event of a divorce. This agreement can also indemnify one party against the financial harm that could develop if the other party incurs considerable debt.
Agreements for court approval
From a legal point of view, a same-sex couple can create either a prenuptial or postnuptial agreement that will stand up in court, but they must be drawn up carefully. Of the two types, the postnup will bear more scrutiny because the judge will want to make sure that neither party has coerced the other into signing. Legal guidance would be helpful to ensure the postnuptial agreement deals equitably with the distribution of assets.
Like traditional marriages, the breakup of a union involving a same-sex couple can be heart-wrenching, and property division can be a bitter affair. Having a prenuptial or postnuptial agreement in place saves time, cuts down on stress and allows the parties to divide their property and debts in a prearranged and more amicable manner.