PRENUPTIAL & POSTNUPTIAL AGREEMENTS
A prenuptial agreement is a contract between you and your future spouse, which offers you legal protections in the event of a divorce or if one of you passes away. While it doesn’t sound very romantic or even necessary to have a prenuptial agreement, it is a document that many people take comfort in having.
Before drafting any agreement, you would each disclose all assets including real estate, cash, investments, etc. and then work to determine which items you want to be considered separate property and which are to be marital property. You can also decide on maintenance, rights of certain inheritances, entitlement to death benefits, etc.
This helps to set up the agreement in a way that both individuals feel is fair, right from the beginning, and helps to determine how these items will be distributed in the event of divorce or death.
A common misconception about prenups is that unless you are rich, you shouldn’t get one. However, there are circumstances where couples of modest means have benefited tremendously from a well drafted prenuptial agreement. If you aren’t sure if a prenup is right for your situation please reach out and schedule a free consultation.
A postnuptial agreement acts in the same way that a prenuptial agreement does. The difference is that you enter into this agreement after you are already married. This agreement is just as legally binding as one entered into before marriage and it can offer the same protections.