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You’ve heard of a prenuptial agreement. It’s a signed contract both parties enter into prior to their marriage. It’s typically reserved for those with family money, a family business, or a great deal of wealth to protect when they enter into a marriage. While most people marry for the right reasons, there are always those who wed someone specifically for their money so they can later divorce them and have a quick payday. It’s ugly, but it happens. Prenuptial agreements are formed all the time, but what about something called a postnuptial agreement?
What is A Postnuptial Agreement?
This is the same concept as a prenuptial agreement. It’s a signed contract that’s considered legal and binding, and it’s something many couples are looking into once they make the decision to wed. Contrary to what it might sound like, a postnuptial agreement is not something you enter into once your marriage is over. It’s actually a legal agreement you enter into prior to getting married or during your marriage.
It’s a contract that states what happens to you and your spouse in case your marriage ends. It might end because of death, divorce, or separation. It’s a contract that helps you pre-determine who gets what, what happens to the marital assets, and how debts are divided.
It’s not a popular form to fill out, but many people are doing it. It seems like bad luck to many to enter their marriage already preparing for it to end, but it’s a legality many deem necessary. If you’re looking to get married or you want to create a postnuptial agreement, it’s best done with an attorney who is familiar with the paperwork and able to help you get what you need when you fill out this form.
Who Needs a Postnuptial Agreement?
No one wants this kind of agreement, but there are people who need it. Stay-at-home parents are a good example. They might want to fill out a postnuptial agreement because they are completely dependent on the financial income of their spouse. This form helps protect them when it comes down to protecting their ability to stay home if the marriage should end.
Another example is a business owner who has partners. Partners might want you to protect your stake in your business with them by filling out this form so your spouse can’t interfere with any portion of the business in case a divorce or separate occurs.
If you have an inheritance, it’s a good idea to draw up a postnuptial agreement. It’s also a good idea to draw up a postnuptial agreement if you are leaving an inheritance to your kids. If you and your spouse die, you can state you want your children’s inheritance given only to them, not their spouse, or just to their kids, or just to them when they reach a certain age. It’s not necessarily all about your marriage at this point, but it is about their marriage so you can protect them from a spouse who might want the money you leave them.
A postnuptial agreement is a little controversial for some. No one wants to get married already filling out forms regarding their potential future divorce, but it’s just what happens in this society. If you’re interested in protecting yourself during a future divorce, you should call an attorney who specializes in this kind of case. You’re entitled to protect yourself, and you should do just that in the event you or your spouse decides your marriage is over or one of you passes.