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 following the wedding.
Even when you are happily married, a postnup can be a good financial device that can help calm money-associated strains in a marriage.
Because financial disagreements tend to cause despair, postnups could be the key a happy marriage.
What Is a Postnup?
A postnup agreement is legal documentation that is signed by the couple following them getting married. This legal device specifies the spouses marital property and what would happen to those assets should they get divorced or separated.
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 postnup can actually ease some of that financial despair. This is since postnups 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 postnup. It’s also wise to have an “unbiased” 3rd lawyer go over the agreement.
Can Postnups Help Your Marriage?
Postnups can possibly help save marriages, and in fact many postnups are carried out when couples are getting near 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 postnup 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 postnups or how a postnup can help in your specific circumstance, consult a knowledgeable family law lawyer near you.
Source:
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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
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