Did you already get married without signing a prenuptial agreement? Are you nervous about the prospects of divorce or your spouse having ulterior motives? If so, it is not too late to safeguard your assets, promote financial unity and simplify potential division of property. You can sign a postnuptial agreement, which is essentially the same thing as a prenuptial agreement after the wedding.
Many couples are hesitant to even bring up the idea of an agreement like this. If you are still undecided but interested, learn more about the following benefits as you consider your options:
1. Protection from ulterior motives
Unfortunately, sometimes people marry for money and want a big pay day through a divorce. If you have significant assets, be careful. Does your spouse already know about your considerable amount of wealth? Have you had enough time to really know her or him and see that person at his or her worst? Consider your spouse’s motives. If you are suspicious, you might want a postnuptial agreement.
2. Financial unity
Postnuptial agreements do not have to solely be about protecting yourself or having suspicions. In the right situation, such a document can encourage financial stability. A postnuptial agreement may bring each of your finances to the forefront and help you consider what should happen during marriage as well as divorce. For example, you can decide whether to merge bank accounts.
3. Property division
The worst time to decide how to split assets is during a divorce. You do not have to wait until emotions are at an all-time high to decide on reasonable terms of property division. With a postnuptial agreement in place, many of these feelings can be taken out of such decisions.
These are just three of many reasons you should consider signing a postnuptial agreement. That being said, it is worth noting a marital property agreement is not the perfect choice for every couple. For more guidance, talk to a family law attorney.