Most are familiar with prenuptial agreements, but many do not know that after marriage, a postnuptial (“post-nup”) agreement is also possible. Essentially, they both do the same, but unlike a prenuptial agreement, the post-nup is entered after a couple marries. And, there are signs that one should be used or, at least, considered by a couple.
Post-nup?
Post-nups, like pre-nups, craft how a marriage will end and how assets are divided, if a divorce is filed. It can also outline the expectations of both parties as to dictating marital conduct. This can include just about anything, like household chores, monogamy expectations, number of allowable familial visits, etc.
Wealthy couples
Generally, for wealthy couples, a pre-nup was already crafted, but if not, most wealthy couples should seriously consider a post-nup. Litigation and attorneys’ fees can balloon rather quickly, and having a post-nup ready can help alleviate some or most of those fees.
Children from previous marriage(s)
Mixed families, like those with children from a previous marriage or marriages, should consider a post-nup. This will ensure that inheritance and guardianship issues can be appropriately addressed prior to a dissolution or death.
Business owners
If one or both spouses own their own business, a post-nup can also be essential. Without one, an ex-spouse can collect a percentage of a business, or even possibly force a sale or dissolution.
Maybe there are some marital issues
Since post-nups can outline marital expectations, if there are some marital issues, they can be outlined in a post-nup. And, consequences can also be written in, which may help solve or at least offer a pathway to resolution for fighting couples.
Inheritance
Especially, if one or both spouses receive a large inheritance, a post-nup can be a good way to protect those funds as they are not automatically considered marital assets. As our Roseland, New Jersey, readers can tell a post-nup has many uses, which may help pull a marriage back together or at least plan for the worst.
