Signing prenuptial agreements has become increasingly common in today’s world because asset distribution contracts are beneficial no matter how high the couple’s net worth is. However, not many people are informed about postnuptial agreements and why they are important. Are you married without a prenup? Or is your and your spouse’s prenup no longer relevant because of circumstances that have changed throughout your marriage? Continue reading or contact a Suffolk County Prenuptial Agreement Attorney to learn more about postnups.
WHAT IS A POSTNUPTIAL AGREEMENT?
A postnuptial agreement is a lot similar to a prenup except that it’s created while the couple is married. As the title suggests, prenups are only signed before marriage, so postnups are any written asset distribution agreements that are made during the marriage. Prenups can determine how marital assets are handled between spouses during the marriage or how the assets are divided if the couple divorces. Meanwhile, postnups are usually meant to prepare for the event of divorce. You don’t need to have created a prenup to create and sign a postnup. Postnuptial agreements can either be independent contracts or amendments to prenups.
WHY DO COUPLES CHOOSE TO MAKE A POSTNUP?
There are many different reasons why a married couple might decide to create a postnuptial agreement. If spouses already signed a prenuptial agreement before their marriage, their financial circumstances might be a lot different once they’ve been married for a few years. For example, if one spouse unexpectantly begins earning a much higher salary than the other spouse, then their originally signed prenup might no longer be relevant. A postnup can be used to either alter a prenuptial agreement or to create a new marital asset agreement if the spouses never created a prenup.
Not all prenuptial agreements need to be legally binding. Couples can create a postnup with a marriage mediator as a tool to work through their financial issues. A postnup can be an open line of communication between struggling spouses. Even if the agreement isn’t technically official, if the spouses trust each other enough then they can create a written postnup to refer back to in the future. Postnups can be beneficial whether you’re facing marital finance problems or the possibility of divorce.
Are you thinking about signing a postnuptial agreement with your spouse? You might consider speaking with an experienced divorce attorney to learn more about your options. Thankfully, the Law Offices of Susan A. Kassel, P.C. is on your side! Contact us today for quality legal counseling.