Post-Nuptial Agreements

Post-Nuptial Agreements

A post-nuptial agreement is very similar to a prenuptial agreement. The major distinction between the two is that a post-nuptial agreement is entered into after a couple is married or has entered into a civil union. Post-nuptial agreements are legal written agreements between both spouses that explain how financial assets and property will be divided if the marriage ends in divorce or separation.

Reasons for Having Post-nuptial Agreements

There are a number of reasons why a couple might want to create and sign a post-nuptial agreement. Such agreements are sometimes recommended by marriage counselors in troubled marriages to help relieve tension regarding money. A post-nuptial agreement sets out how funds would be divided at the time of divorce, and having this set agreement can help couples move past financial worries. Post-nuptial agreements can also include stipulations regarding behavior in a relationship that could ease the minds of struggling couples. For example, post-nuptials can include financial penalties if one spouse is unfaithful or overspends. However, stipulations regarding lifestyle choices, such as where vacations should be spent, cannot be included in a post-nuptial.

Another reason to have a post-nuptial agreement is if the financial situation of one or both spouses changes significantly during the marriage. If one spouse receives an inheritance, sells a business, benefits from a good investment, or otherwise experiences a significant increase or decrease in assets, a post-nuptial agreement allows both spouses to lay out how to fairly divide those assets. Doing this can relieve tension in a marriage. Post-nuptials can also be used by a couple that is headed toward divorce to agreeably settle matters of finance before the divorce proceedings begin. This makes the divorce process much faster and easier on each spouse. For a post-nuptial to be valid, it must follow the laws of the state in which it was created. It is in the best interest of both spouses to have a lawyer compose a post-nuptial agreement to ensure that all financial matters are covered appropriately and legally. A post-nuptial agreement can be thrown out by a judge if one spouse hides assets from the other, if the agreement does not treat each spouse fairly, or if either spouse was pressured into signing the agreement. For this reason, having a family lawyer work on your post-nuptial agreement is a wise decision.

Do You Need a Post-nuptial Agreement?

If you and your spouse would like to learn more about post-nuptial agreements or how a post-nuptial could benefit your marriage, you should take the time to consult with the lawyers at Alliance Legal Group. Our friendly lawyers look forward to hearing your story and to helping you however we can. Call us today at (877) 560-4440 to schedule your free consultation.