What is a postnuptial agreement? Might it make sense for you?

| Apr 9, 2015 | Prenuptial Agreements |

Years ago, you and your spouse passed on executing a prenuptial agreement prior to your marriage. You’re not alone. Many about-to-marry couples in Georgia similarly balk at signing such a contract. Truth be told, many soon-to-be newlyweds hesitate to even broach the subject of a marital contract, thinking it might poison their future marriage.

However, interestingly, some of those same couples find that they are willing to revisit the subject after a few years of married life. That happens for many reasons, including:

  • The topic might simply seem less taboo after a period of time passes.
  • Couples who are content with their relationship still may want to discuss what might go into a marital contract.
  • Some might simply have a newly realized appreciation for the utility of such an agreement as a planning vehicle.

What is a postnuptial agreement?

For those without a prenuptial agreement, there are still options even after saying “I do.” A postnuptial agreement is a document that some couples execute following, rather than prior to, their marriage. In many ways, a postnuptial agreement is closely similar to a premarital contract. It can be of special utility in a number of instances, such as when one or both partners in a subsequent marriage have children from a previous relationship, or when significant assets accrue during a marriage, including inheritances.

Is such an agreement right for you?

Of course, that depends on many things, with your personal situation entailing unique considerations. It can be helpful to consider the value that a postnuptial agreement, or prenuptial agreement for those about to be married, may have in a future divorce.

While no one wants to “plan” for divorce, having a marital agreement in place specifying who would get what can be a very useful tool for gaining peace of mind despite the stress of change. With divorce rates high and many people marrying later in life, the role these agreements play concerning the financial aspects of marriage continues to increase.

Consider discussing your situation with a professional

For many couples, the difficulty of breaking up may be not so much the emotions as the nuts and bolts, such as property arrangements. It can be stressful to go through the property division process. This is true whether it involves high-asset divorce in Atlanta or any other type of divorce elsewhere in Georgia.

A proven family law attorney with experience helping clients negotiate and draft marital contracts can answer questions regarding postnuptial agreements, including whether they are enforceable in a given jurisdiction and, if so, what they can and cannot address.

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