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How do postnuptial agreements work?

On Behalf of | Dec 7, 2022 | Prenuptial and Postnuptial Agreements |

Couples who do not opt for prenuptial agreements still have one option: postnuptial agreements.

Though prenuptial agreements are preferable for a number of reasons, postnuptial agreements do still have their uses and can be a good tool.

Postnuptial basics

Bustle takes a peek at some of the red flags about financial incompatibility in a relationship, which is just one of the many potential reasons that a couple may want to create postnuptial agreements.

These are the same as prenuptial agreements at their core, but simply happen after a couple ties the knot rather than before. The agreement must be in writing and have the voluntary signature of both parties to be valid. Couples will usually focus on alimony, as well as the division of debts and assets.

Couples may also choose to include provisions for things like spousal support in the event of a divorce. If a divorce actually happens, the court will review the provisions to ensure they are still fair.

Why should you get one?

There are many different reasons why a couple may decide to go for a postnuptial agreement. Changing circumstances are a big reason. For example, one spouse might come into a large inheritance or raise and might want to know that money will be handled well in the future.

If one spouse has irresponsible financial habits or spending behaviors, such as a gambling addiction, this might also be a good reason to set a postnuptial agreement.

This does not have to serve as a sign of lacking trust in one’s partner. Rather, it is a smart security measure that everyone should consider.

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