Regardless of whether you and your spouse signed a prenuptial agreement, it may be necessary to sign a postnuptial agreement. Read on to discover under what circumstances you and your spouse should get a postnuptial agreement and how a seasoned Bergen County family law attorney at McNerney & McAuliffe can help you in making this determination.
What is a postnuptial agreement?
A prenuptial agreement is a contract between you and your spouse, which is established before your marriage and covers what should happen with your properties and financial obligations toward one another in the event of an eventual divorce. Notably, a postnuptial agreement is similar, except it is established after you and your spouse have already married.
To reiterate, a postnuptial agreement is only valid for matters related to finances, such as asset division, spousal support, inheritances, and real estate, among other things. The main difference between a prenuptial agreement and a postnuptial agreement is that the latter is less emotionally charged. This is because this is not used as a condition to marry.
Should my spouse and I sign a postnuptial agreement?
It is important to note that a postnuptial agreement is not exclusively for couples who are considering a divorce. While this is a valid reason, you and your spouse should also consider signing this contract if any of the below circumstances are relatable:
- You and your spouse have matured since your nuptials and require better communication and more faith in each other when it comes to your finances.
- You and your spouse wish to remain married but believe it is in your best interest to separate yourselves financially.
- You and your spouse wish to remain married but believe it is in your best interest to adjust the terms and conditions of your prenuptial agreement.
- You and your spouse wish to supersede certain state laws surrounding your estate plan.
- You and/or your spouse have experienced significant changes in your marital dynamics (i.e., one’s yearly income is significantly higher than that of the other, one received a significant inheritance, etc).
- You and/or your spouse believe that you will experience significant financial changes in the future (i.e., if you and/or your spouse have recently become business owners).
- You and your spouse are considering divorce but are still making an effort to work things out.
With all things considered, we understand that having a conversation about drafting such an agreement when you are already married may be difficult. However, it may work to your benefit in the long run. So if you require support with drafting and executing this agreement, you should look no further than a competent Bergen County family law attorney from our firm. We look forward to working with you.
