Posts on this blog have discussed the importance of prenuptial agreements and how they can be beneficial for a couple thinking about tying the knot. However, many people find it hard to discus these matters prior to their marriage. Sometimes these individuals feel like they’ve missed out on an opportunity when they fail to enter into a prenuptial agreement, but this isn’t the case because these couples can still agree to a postnuptial agreement.
Although a postnuptial agreement addresses the same legal issues touched on by prenuptial agreements, only after marriage occurs, there may be certain situations in which the creation of a postnuptial agreement is of critical importance. Say, for example, that during the course of marriage one party is set to inherit a large sum of money that was not anticipated prior to the marriage. This may be the catalyst for a postnuptial agreement specifying how that inheritance will be split, if at all, in the event of a divorce. Such an agreement can alleviate financial concerns for the heir as well as the person leaving the inheritance.
Also, many people find postnuptial agreements to be necessary after some sort of betrayal in a marriage. Whether romantic or financial infidelity, a postnuptial agreement can give a wronged party some control over the relationship by agreeing to keep the marriage intact in exchange for an agreement on financial responsibilities and during the marriage and after divorce, if one should occur.
Prenuptial and postnuptial agreements can be powerful tools that lay the financial framework for one’s financial future, regardless of whether divorce occurs. In other words, these agreements can provide a sense of comfort and security. However, they must be carefully negotiated and crafted to remain legally valid, which is why it is usually its helpful to approach these matters with the assistance of a skilled family law professional.