Even as a happily married couple, you might run into issues that could eventually lead to a divorce. Wanting to protect yourself financially is natural, and depending on your situation, you may want to consider obtaining a postnuptial agreement with your spouse.
A postnuptial agreement, signed after you marry, dictates how you and your spouse will divide assets and debts during a divorce. There are some situations where such an agreement might benefit your family.
1. Change in Financial Circumstances
Throughout your marriage, you might experience changes that impact your financial situation. These life changes can include:
- Starting a business
- Inheriting property or assets
- Accumulating debt
- Having children
A postnuptial agreement helps dispel misunderstandings regarding assets and debts and provides an opportunity to discuss these financial considerations with your spouse.
2. Children From a Prior Relationship
If you or your spouse have children from a previous marriage, you may be able to use a postnuptial agreement to safeguard your child’s financial future in the event you divorce.
3. Marital Misconduct
If your spouse’s negative behavior has affected your relationship, a postnuptial agreement can offer a peace of mind while helping your spouse understand the full implications of their actions. Whether there are issues with infidelity, substance abuse, or gambling, negotiating the terms of separation together may help strengthen your marriage.
You and your spouse can sign a postnuptial agreement at any time during your marriage. Even if you already have a valid prenuptial contract, drafting a postnuptial agreement allows you to revisit and revise the terms of separation to include any relevant changes.