Prenuptial and Postnuptial Agreements: Who Needs What
Prenups
Prenuptial and postnuptial agreements are similar in their substance, however, you use them at different times. A prenuptial agreement happens before marriage. Many couples use them if one spouse is coming into the marriage with considerably more assets than the other. They can protect you if your partner brings a lot of debt to the marriage. They can even protect children from previous marriages. If a couple cannot agree on a prenuptial agreement, they might decide not to proceed with the marriage.
Postnuptial Agreement
In contrast, a postnuptial agreement is used after a couple gets married, so it’s too late to call off the wedding at that point. However, prenuptial and postnuptial agreements still cover similar things. For example, they can outline what happens to assets in the case of divorce. They can cover things like spousal support and what happens to debt.
When to Use Each
While prenuptial and postnuptial agreements are similar, it’s important to know when to use each. Couples that did not get prenuptial might later get postnuptial if they are married. A postnuptial might be helpful if one partner has a sudden windfall. For example, if they inherit a large sum of money. In addition, it can protect a spouse if their husband or wife has reckless spending habits and is accumulating large debts.
Creating an Agreement
Both prenuptial and postnuptial agreements need to be written by an experienced attorney. They can help ensure that the agreement is legal and enforceable. Contact an attorney to help you figure out exactly what to include in your agreement so that you are protecting yourself as much as possible.
Prenuptial and postnuptial agreements are both legal documents that can outline what happens to a couple’s assets in the event of a divorce. And both of them are a great way to protect yourself financially in the event of your marriage ending. However, they differ because a prenuptial agreement is for couples that are about to marry, and a postnuptial is for those that are already in a marriage. You can use either one to protect your assets and any children from a previous marriage, and guard yourself against your partner’s debt. If you are wanting to create either a prenuptial or postnuptial agreement, you’ll want to contact an experienced attorney. They can ensure that you include everything you need to protect yourself as much as possible.
