What Is a Postnup?

Prenups are pretty common presently, but what is a postnup? Dissimilar to prenups, which are entered into prior to a marriage, postnup agreements are signed after the wedding Even in a happy marriage, these agreements can serve as a valuable financial tool that can help calm money-associated strains in a marriage. Because financial disagreements often lead to strain, a post-marriage agreement could be the key to a happier, more secure marriage.

What Is a Postnup?

A post-marriage agreement is legal documentation signed by the couple after they get married. This legal device outlines the spouses’ marital property and specifies what will happen to those assets in the event of divorce or separation. As reported by NBC’s ‘Today,’ money is often cited as one of the primary reasons for unhappy marriages. Nevertheless, the process of creating a marital agreement can actually ease some of that financial despair. This is because such agreements can, for instance:

• Help establish who owns what,
• Provide some structure for how to negotiate probate matters, or
• Determine that one spouse’s student loan liabilities are not joint marital liabilities.

It’s suggested that each individual spouse find their own lawyer when creating a postnuptial agreements. It’s also wise to have an “unbiased” 3rd lawyer go over the agreement.

Can Postnups Help Your Marriage?

Postnuptial agreements can possibly help save marriages, and in fact, many are created when couples are nearing their tipping point. In actuality, the mediation process of taking a seat and examining your joint financial issues can be healing. Prime example: CNN reported once on spouses that had been through a multitude of marriage counselors over their financial strains that proved to be pointless. Then they discovered postnuptial agreements and each retained a lawyer to hash out their concerns. At the end of the day, they came up with a solid plan that they both agreed to, and saving their marriage. Should you have more questions concerning the creation of postnuptial agreements or how such an agreement can help in your specific circumstance, consult a knowledgeable family law lawyer near you

Source:

1. Lynn J. Maier, E. (2011, December 7). How a Postnup could save your marriage. HuffPost. Retrieved August 25, 2022, from https://www.huffpost.com/entry/why-a-postnuptial-agreeme_b_997219