When Should a Couple Sign a Postnuptial Agreement?

 Posted on February 08, 2023 in Family Law

A postnuptial agreement is a binding legal contract between two spouses that lays out the terms of their financial arrangement in the event of a separation, divorce, or death of a spouse. A postnuptial agreement is similar to a prenuptial agreement but is entered into after a couple has already tied the knot. In our society, it frequently seems as though conversations revolve around prenuptial agreements and rarely postnuptial agreements. Today, we are going to look at some instances where it may make sense for a couple to enter into a postnuptial agreement. 

If you are looking to enter into a postnuptial agreement, contact an experienced family law attorney who will work to protect your rights while working to make your legal goals a reality. 

When Does it Make Sense to Enter into a Postnuptial Agreement? 

There are various reasons why a couple might consider making a postnuptial agreement. These reasons include the following: 

• Changes in circumstances – Life changes and circumstances can significantly impact a couple's financial situation. For example, one spouse may have received a significant raise or promotion, or the couple may have acquired valuable assets during their marriage. A postnuptial agreement can help ensure that each spouse's financial interests are protected in the event of a separation or divorce.

• Clarity and transparency – A postnuptial agreement can provide clarity and transparency regarding a couple's financial arrangement. It can help avoid misunderstandings or disputes down the line and provide peace of mind for both spouses. 

• Protection of assets – A postnuptial agreement can help protect the assets that each spouse brought into the marriage and any assets acquired during the marriage. This can be especially important for individuals who want to ensure that their assets are passed on to their children or other heirs during their death. 

• Infidelity – If one spouse has been unfaithful, a postnuptial agreement can help address infidelity's financial consequences. This can include provisions for spousal support, division of assets, or other financial arrangements. 

• Second marriages – In the case of a second marriage, a postnuptial agreement can help to clarify the financial arrangement between the spouses and their respective children from previous marriages.

Contact an Arlington Heights, IL Postnuptial Agreement Attorney

If you and your spouse are looking to enter into a postnuptial agreement, consider contacting the skillful Arlington Heights, IL, postnuptial agreement lawyers with A. Traub & Associates. Call 847-749-4182 for a private consultation.

Source:

https://www.cnbc.com/2022/11/27/heres-why-married-couples-might-want-to-sign-a-postnuptial-agreement.html