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In recent years, prenuptial agreements have largely shed their stigma, as many couples have realized the value and reason behind planning for certain issues that often arise in divorce. By discussing these matters rationally when a couple’s relationship is in a good place, it can prevent contentious battles if spouses enter the divorce process on combative terms.
As prenups have risen in popularity, the awareness and implementation of postnuptial agreements have also increased. Here is a look at the lesser-known of the two types of marriage agreements:
A postnuptial agreement is created sometime after a couple’s wedding, when spouses decide they should document certain areas of potential concern. This may include plans for the division of marital property and spousal support in divorce, or the need to create a will or trust for asset distribution if one or both spouses die. A postnup can also lay out the expectations of each spouse in the marriage, including their occupational and child rearing commitments.
Like prenups, a postnup cannot address child custody, visitation, or child support should the marriage end in divorce. Also, like a prenup, the couple can amend the agreement at any time they feel a change is necessary.
In short, a postnup is a prenup created after a couple is wed. Both agreements typically discuss money and communication between spouses, two of the most common factors in divorce. These are not agreements just for wealthy people. Yes, they can help greatly in high net-worth divorces or those that include individual or joint business ventures and inheritances. However, they are also beneficial to those who simply want to plan for the worst-case scenario while they are on good terms, or who think divorce may be a possibility but they are trying to save the marriage.
In the end, prenups and postnups can protect spouses from making very important decisions while under the influence of anger and resentment that often accompany the divorce process. Think of it as an insurance policy for your marriage, designed specifically by and for your situation.
Whether you plan to get married or are already married, Goldberg Sager & Associates can help you create a prenup or postnup that addresses your concerns as a couple. To speak with an experienced New York City postnuptial agreement lawyer, contact us at 718-514-9516 today for a free consultation.