Should You Get a Postnuptial Agreement?
Most couples have heard of prenuptial agreements. These documents outline what the parties can expect in the event of a divorce—before the couple is married. You may be wondering “Can I get a prenup after marriage?” Many couples may not know that they can get postnuptial agreements as well. A postnuptial agreement follows the same premise as a prenuptial agreement in that it also dictates what will happen in the event of a divorce. The main difference is that couples get it after they are already married.
The best time to discuss finances is before getting married. However, feelings of love tend to take over once a couple is engaged and nobody wants to bring up the topic of a prenuptial agreement, ince it’s not romantic. But once a couple settles down in their marriage, they soon find out that marriage isn’t based solely on romance. Once the honeymoon phase is over, it’s time to worry about finances. A postnuptial agreement helps bring peace of mind in this regard.
What to Know About Postnuptial Agreements
Prenuptial and postnuptial agreements have a bad reputation because just the mention of them brings about an air of distrust. Postnuptial agreements especially can be seen as shady because they are brought up after the couple gets married. It would have been more appropriate to discuss the terms of the marriage before tying the knot. This would give each the party the opportunity to not move forward with the marriage if they not agree with the terms in the prenuptial agreement. Once the couple is married, there really isn’t any choice but to sign the agreement—despite one’s concerns—or get a divorce. While most people won’t divorce over a piece of paper, they will feel the effects of their decision to sign the document down the road when they do decide to divorce.
Benefits of a Postnuptial Agreement
Postnuptial agreements are good for dealing with situations that happen or that you find out about after you get married. For example, you might find out that your husband has $100,000 in debt and you don’t want to have to deal with repaying that. You can specify that in the document. Maybe you receive a $1 million inheritance five years into the marriage and want to make sure your wife doesn’t steal it. A postnuptial agreement keeps the money in your name only.
A postnuptial agreement can also outline spousal support or allow a party to decline it. It can also provide details about asset division upon death or divorce. If one spouse has been irresponsible throughout the marriage—unemployed, gambling, DUIs, in trouble with the law, etc.—finances can be affected. A postnuptial agreement can help prevent further financial ruin.
Work with an Experienced Family Law Attorney in Brooklyn
A postnuptial agreement may be a good idea based on your marriage’s unique circumstances. It may be a good idea to discuss your concerns with a lawyer. Brooklyn family law attorney Theodore Alatsas ESQ has helped many clients understand the benefits of prenuptial and postnuptial agreements. Contact our office at (718) 233-2903 for a free consultation.