When two people decide to tie the knot, the last thing on their minds is the possibility of divorce. While it may not be the most romantic topic, a prenuptial agreement can protect both parties in the event of a separation or divorce. And for some couples, a married prenuptial agreement is the best option.
What is a married prenuptial agreement?
A married prenuptial agreement, also known as a postnuptial agreement, is a legal document created and signed by a married couple. Unlike a prenuptial agreement, which is signed before the wedding, a postnuptial agreement is signed after the couple is already married. The purpose of a postnuptial agreement is to determine how the couple`s assets will be divided in the event of a divorce.
Why get a married prenuptial agreement?
There are several reasons why a married couple may choose to get a postnuptial agreement. Some couples may have neglected to get a prenuptial agreement before the wedding, and now want to protect their assets in the event of a divorce. Others may have experienced a change in circumstances, such as an increase in wealth or a change in career, that requires a reevaluation of their financial situation.
A postnuptial agreement can also help to strengthen a couple`s relationship by providing clarity and transparency in their financial dealings. By openly discussing their financial situation and deciding how assets will be divided in the event of a divorce, the couple can avoid future conflicts and disputes.
What should be included in a married prenuptial agreement?
A postnuptial agreement should include a detailed list of the couple`s assets and liabilities, including any property, stocks, or retirement accounts. It should also outline how these assets will be divided in the event of a divorce. Other topics that may be covered in a postnuptial agreement include spousal support, debt allocation, and inheritance rights.
It is important to note that a postnuptial agreement must be fair to both parties. If a judge determines that the agreement is one-sided or unfair to one party, it may not be enforceable.
Conclusion
While a married prenuptial agreement may not be the most romantic aspect of a marriage, it can provide peace of mind and protection for both parties in the event of a divorce. By openly discussing their financial situation and outlining how assets will be divided, a couple can avoid future conflicts and disputes. If you are considering a postnuptial agreement, it is important to consult with an experienced attorney to ensure that the agreement is fair and legally binding.