Postnuptial agreements, which are basically prenuptial agreements for married couples, have become more common in recent years. As people grow older in their marriages, assets, property and finances can all change quite a bit. For some couples this added stress proves to be too much, and they decide to enter into a postnuptial agreement.
For many couples postnuptial agreements can help cut down on conflict and stress that can be caused by managing finances in a marriage. Postnuptial agreements offer a bit of security for many couples, and it can cut down on the questions regarding what will happen to property and other assets should a marriage end.
Postnuptial agreements are entered into voluntarily by married couples, and they can cover all sorts of issues. Property, finances, children, probate issues and support are all often discussed within a postnuptial agreement. According a study by the American Academy of Matrimonial Lawyers, more than half of the respondents from the survey have seen an increase in postnuptial agreements in the past three years. They also mentioned that they’ve seen an increase in women initiating the requests for postnuptial agreements. Frequently this is caused by a shift in the financial status of each member of the couple, and as more women are making more money, they find the need to be sure that their assets are secure with the help of postnuptial agreements.
If you’re considering a postnuptial agreement, we recommend first organizing all of your assets and finances so that you can comfortably speak with an attorney regarding what you want to protect. Be honest regarding your assets, and keep in mind that a postnup is a contract like any other. So be willing to compromise so that both sides of the agreement are getting fair treatment.
While a postnuptial agreement can be daunting, for many couples it helps keep larger issues from arising and cuts down on conflict and increases security. If you’d like to discuss the possibility of a postnup, contact the Pellerin Law Firm today for a complimentary consultation.