There is a bit of stigma attached to prenuptial agreements and, as a result, many couples often forego obtaining a prenuptial agreement to protect their respective financial futures. Fortunately, even after spouses tie the knot, they still have the option to create an agreement that will afford them the same safeguards a prenuptial agreement would. The major difference between these two contracts is that one is signed prior to the wedding ceremony while the other is signed anytime during the marriage (after the ceremony and prior to divorce or death). Both parties must have counsel for a postnuptial agreement, also called a marital agreement, to be upheld.
There are numerous reasons why spouses might later decide to obtain a postnuptial agreement. We compiled a list of the 4 most common reasons for you to review:
- There was not enough time to have one done before getting married: A lot goes into planning a wedding and, in the chaos of it all, some things might remain incomplete or entirely forgotten. Of course, this is totally understandable! A couple might have every intention of obtaining a prenuptial agreement, but simply run out of time to get it done. In this case, they would opt for a postnuptial agreement instead.
- A spouse is ill or dying: In some cases, spouses might draft a postnuptial agreement when one party is in poor health or dying to ensure their property and assets are handled according to their wishes. However, you might also want an estate plan in place, in addition to a postnuptial agreement, so consider hiring and consulting with an estate planning attorney as well, if this is your reason for pursuing a postnuptial agreement.
- Trying to make-up and make amends: Marriage does not always go smoothly. If there is infidelity or trust is otherwise broken, it can take a lot to get a couple back on track. A postnuptial agreement can help provide a sense of security by setting new terms and mutual promises in the relationship to help rebuild.
- Planning for a divorce: Although this might be a reason why some consider getting a postnuptial agreement, it is absolutely NOT what these contracts were designed for. A postnuptial agreement is meant to help keep a marriage together, rather than to plan for the end. If the post-nuptial agreement takes unfair advantage of one spouse by the other, a divorce court may declare it unconscionable and invalidate it at the actual time of divorce.
Schedule a Consultation with a Postnuptial Agreement Attorney Today!
If you and your spouse did not get a chance to put together a prenuptial agreement, you still have the opportunity to obtain a postnuptial agreement that will essentially serve the same purpose. At Kraft Miles, A Law Corporation, our postnuptial agreement attorneys are experienced in helping spouses draft effective agreements that protect their interests in the event of a worst-case scenario, allowing both parties to rest easy.
Begin creating your postnuptial agreement today and contact our law firm at (818) 462-5076 to schedule a case review with one of our knowledgeable attorneys. It is never too late for you and your spouse to safeguard your futures!