Couple signing a postnuptial agreement

Can a Postnuptial Agreement Help Your Marriage?

A postnuptial agreement is used by married couples as a communication tool and as a safety precaution for unforeseen life events. Although this agreement is similar to a prenuptial agreement, there are some differences.

Difference Between Postnuptial Agreements and Prenuptial Agreements

A postnuptial agreement is an agreement between both parties after they are married. The agreement sets forth the rights and obligations of each party in the event of death or divorce. If a postnuptial agreement is used during the divorce process, it is often referred to as a separation agreement and helps expedite the divorce process.

A prenuptial agreement is a legal agreement that takes place before marriage. It establishes property and financial rights between each spouse in the event of divorcing. Although viewed as an agreement that wealthy spouses implement, it has other benefits as well such as protecting family businesses.

The main difference between these two agreements is the time that it is implemented.

Why use a postnuptial agreement?

This type of legal agreement is used for a variety of reasons. It may be particularly beneficial if you are in your second or third marriage, especially if you have children from one or more of those previous marriages. A postnuptial agreement can help ensure your assets go to your children.

A postnuptial agreement is also helpful for when you step out of the workforce to spend time caring for your children by ensuring your financial security. Examples of matters that are commonly addressed in postnuptial agreements include spousal and child support, parenting plans and child custody, and equitable property division rights.

When entering into a postnuptial agreement, the law imposes an important condition for spouses. Before the court will recognize and enforce a postnuptial agreement, both parties must provide full financial disclosure. If full disclosure is not provided, the court has a right to dismiss the agreement as invalid.

Perks of a Postnuptial Agreement

Postnuptial agreements can often be therapeutic for marriages and enhance communication between spouses. It provides couples the opportunity to assess their assets, debts, spending habits and other joint decisions made in the marriage. Sharing grievances and coming to acceptable terms for each party allows many couples to move beyond issues and provides a roadmap for handling common controversies of married life.

In addition, if there is an eventual dissolution of the marriage, the postnuptial agreement becomes the framework for a separation agreement. This spares the clients from the additional emotional stress of negotiation, legal fees and time spent in court.

Meet With Craig Vigodsky to Discuss a Postnup!

Postnuptial agreements can assist in solving a variety of marriage issues. They provide couples with a clear, unified direction and peace of mind. Get down to brass tacks; contact Craig Vigodsky about postnuptial agreement options today!

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