What Is a Postnuptial Agreement?
The words “prenuptial agreement” are familiar to most people – they are the legal documents that are entered into by two people before they get married. But what about a postnuptial agreement? You may know that “pre” means before and “post” means after, but still wonder what the purpose is of an agreement that is written after you get married?
Postnuptial agreements are legal documents that are entered into by two spouses after couple is married. Postnuptial agreements typically list the couple’s marital property and what should happen to the assets if the couple should legally separate or divorce.
Do you need a postnuptial agreement?
Whether or not you and your spouse need a postnuptial agreement is obviously a personal decision. Every marriage is unique and each couple’s financial situation is different. Postnuptial agreements can be an effective financial tool that can assist with resolving monetary-related issues that arise during the course of a marriage. Financial disagreements are often at the core of many marital problems and postnuptial agreements can be a way for both spouses to address those matters upfront.
Postnuptial agreements can address several issues
Postnuptial agreements afford an opportunity for married couples to sit down and analyze their joint financial situation. Discussing monetary issues and concerns in the course of developing a postnuptial agreement can alleviate stress and open communication on the topic. Postnuptial agreements can be tailored to your specific needs, and may include the following:
- Specify which assets are owned by which spouse
- Specify whether student loan debts are separate debts or joint marital debts
- Provide a framework for resolving probate issues
Postnuptial agreements should be drafted by each spouse’s individual attorney; oftentimes it is beneficial for a third, neutral party, to review the agreement.
Wondering whether a postnuptial agreement is right for you?
Decisions involving your marriage and your finances are both important and uniquely personal. A friend or colleague may lend a sympathetic ear to your woes but may not offer the best advice. Let us help you make an informed decision regarding your situation. At Lomurro Law, our New Jersey family law attorneys are experienced in postnuptials, prenuptials, divorce, separation, and other family matters. Our team is knowledgeable, compassionate, and dedicated to helping New Jersey families reach the best possible outcome in resolving their family matter. To discuss whether a postnuptial agreement might be in your best interests, contact our office at 732-414-0300 or online to arrange for a confidential consultation to discuss your situation.