Engaged couples sometimes decide to sign a prenuptial agreement to protect themselves. A prenuptial agreement can establish expectations for the marriage and protect certain property if the couple gets divorced.
Once you get married, a prenuptial agreement is no longer an option, but you could still draft and sign a postnuptial agreement. What are some of the signs that you might benefit from a postnuptial agreement?
You have experienced serious issues in your relationship
One of the top reasons spouses decide to sign a postnuptial agreement is marital issues. Perhaps one spouse has developed an addiction to pain relievers, or maybe one spouse caught the other having an affair.
When there is a serious issue with the marital relationship, but the spouses want to try to make their marriage work, postnuptial agreements could create penalties for misconduct that make staying in the marriage a safer decision.
You worry that divorce could be imminent
If you have had some real issues in your marital relationship, you may acknowledge that divorce is a risk even if you want to make the marriage work. You don’t have to choose between protecting yourself and trying to maintain the marriage.
You can do both by executing a postnuptial agreement that will preemptively set the terms for a divorce. That way, if your efforts to save the relationship fail, at least you won’t have a litigated divorce to handle next.
You recently inherited property or started a business
Big assets are a common reason for spouses to think about how they protect themselves financially. Inheriting thousands of dollars from your parents or starting a new business are both reasons why you might want to put certain financial agreements with your spouse in writing. You can protect your assets and work on your marriage without leaving yourself totally vulnerable.
Drafting a postnuptial agreement could help your marriage and could help protect you if your marriage does eventually end.