What document can my husband sign to waive rights to my finances?

Full question:

What document can my husband sign waiving all rights to my finances? We are both 76. I married him 12 years ago. My first husband is deceased. He is willing to sign anything in order for my assets to be protected from him and his family.

• Category: Marriage
• Subcategory: PostMarital Agreements
• Date: 04/07/2025
• State: North Carolina

Answer:

The appropriate document depends on the property type and ownership. For instance, if real property is owned jointly, a deed can transfer it solely to one spouse. Joint accounts may also be transferred to one spouse's name, or a trust can be established to manage ownership. However, in North Carolina, if you later divorce, a court might still divide property based on equitable distribution principles, which aim for fairness rather than equality. Factors considered include:

1. Income, property, and liabilities of both parties;
2. Support obligations from previous marriages;
3. Duration of the marriage and the parties' health;
4. Needs of the custodial parent;
5. Expectations of pensions or retirement benefits not classified as marital property;
6. Contributions to the other spouse's education or earning potential;
7. Any other relevant factors deemed just by the court.

A postnuptial agreement is a written contract made after marriage that outlines property, assets, debts, and how they should be divided in case of death, separation, or divorce. This agreement is typically upheld if entered into knowingly and fairly, but can be invalidated if there is evidence of dishonesty or coercion. Both spouses should disclose their financial situations and have the chance to consult independent attorneys.

Additionally, a free trader agreement can be used, stating that neither spouse will incur obligations in the other's name or secure credit against the other. Each party agrees to pay their own debts and indemnify the other against any obligations they incur.