Marital agreements can be useful tools for married couples to sort out their finances and prepare for the future. You’ve probably heard of a prenup, but have you heard of a postnup? Nowadays, many couples are deciding to write postnuptial agreements (postnups) as a way to handle their marital assets. To learn about how a postnup could benefit your marriage, read on or reach out to one of our Postnuptial Agreement Attorneys in Bergen County, NJ today!
WHAT ARE POSTNUPTIAL AGREEMENTS?
Postnuptial agreements are similar to prenuptial agreements; the only real difference is when they were created by the married couple. Prenups are written and signed by couples before they are married, and they are often used to determine how the spouses’ assets will be handled during the marriage and what would happen if they were to get divorced. Meanwhile, postnups are created by couples who are already married, but they have identical purposes. Most couples write a postnup to determine how their assets will be divided in the event of divorce. Postnuptial agreements can also alter a prenup. A postnup can be created whether or not the couple has created a prenuptial agreement.
WHAT ARE THE BENEFITS OF A POSTNUP?
There are many different reasons why a married couple might decide to make a postnuptial agreement. As stated earlier, a postnup can alter a prenup. This can be helpful if the couple’s signed prenup is no longer relevant because circumstances have changed in their marriage. For example, if one spouse suddenly begins earning a much higher income than the other spouse, then their prenup might no longer be viable. In this situation, a postnup can be beneficial to revise the prenup.
Not all postnuptial agreements need to be legally binding. Some couples simply use a postnup as a tool to open a line of communication when going through a rough patch in their marriage. Discussing marital assets openly could benefit clashing spouses. Even if it’s not a legal document, the couple can refer back to it in the future if necessary.
It’s important to note that postnuptial agreements are regarded with an extra degree of skepticism in the courtroom. Judges are aware of the emotional influences that can occur in a marriage, so they may void the legal document if they believe one spouse was forced into signing it. A postnuptial agreement lawyer can help you write a valid postnup and help you protect your needs.
If you’re considering writing a postnup with your spouse, you should consider speaking with an experienced marital agreement attorney to discuss your options. Townsend, Tomaio & Newmark, LLC is here to provide quality legal counseling! Contact us today to learn how one of our compassionate lawyers can help you.