A postnuptial agreement is a helpful document in a divorce
On behalf of Barli & Associates LLC posted in blog on Wednesday, March 28, 2018.
You and your spouse may have had a postnuptial agreement drawn up because you are both in your second marriage. However, there are other reasons for couples to have this kind of legal document.
If the two of you are contemplating ending your marriage and you have a postnup, fewer obstacles and disagreements will arise during the divorce.
The postnuptial agreement explained
You probably know that a prenuptial agreement is a legal contract that many couples sign before their marriage. A postnuptial agreement is essentially the same, only they draw it up after the couple marries or forms a civil union. In both cases, the agreement largely focuses on the division of assets and debts in the event of a divorce.
Why it is useful
You may want a postnuptial agreement during your second marriage to ensure your daughter from your first marriage will receive certain assets in the event of your death. If divorce should occur, you might want the postnup to set forth details not only about the division of assets and joint debts but also how to handle alimony and child support payments. In fact, a postnuptial agreement can become part of your estate planning strategy.
Some people have established postnups as a means to strengthen marriage if it appears to be in jeopardy. For example, if a spouse drinks to excess, gambles or tends to wander, there is hope that agreement terms designed to be beneficial to that spouse will show that the spouse initiating the postnup is committed to the marriage. The division of household labor — even chores such as who is responsible for taking out the trash — also appears in some postnuptial agreements.
A divorce is a highly emotional event. A family law attorney will tell you it is essential to find common ground that can make the process less stressful. A postnuptial agreement will go a long way toward smoothing the rough waters if divorce becomes inevitable.