The term “prenup” has become widely known in modern America. Perhaps this is because prenuptial agreements are used in so many celebrity marriages. In any case, a prenup gives a couple about to tie the knot clear guidelines about who would get what if the marriage were to end.
Postnuptial agreements are probably less well known. They can be just as important, however, for couples seeking a strategy for structuring what would happen if they split up.
A postnup, like a prenup, is a marital contract that that can be used to specify each party’s property rights in the event of a divorce. The main difference is that a postnup is executed after, not before, the marriage vows are taken.
Such agreements are often particularly appealing when one or both of the parties to a marriage have been married before. For couples concerned about a potentially messy divorce, the clarity up-front about how to deal with later contingencies can be very helpful. The peace of mind they give can be a balm to nip incipient anxiety in the bud.
In other words, a postnup isn’t necessarily only for couples with suspicious minds. To the contrary, even satisfied couples may benefit from such an agreement. Knowing how bank accounts, support payments, inheritance and other financial matters would be resolved in the event of divorce can be a de-stressor that allows someone to embrace the present moment more fully.
Naturally a big metro area like Atlanta has its share of people who could benefit from prenups or postnups. Think about what your goals are and go from there.
Source: “Postnuptial agreements becoming more common, signed after couples get married,” KABC, Ric Romero, 8-29-12
Our firm handles situations similar to those discussed in this post.