You have probably heard of prenuptial agreements. Essentially, prenups are contracts the parties sign before getting married. It is safe to say that most couples in and around Herndon, Virginia, do not create prenuptial agreements before marriage. However, you can still reap many of the same family law rewards a prenup offers in another way.
A postnuptial agreement is like a prenup as in it is a contract couples agree to after they are married. Many people believe that such an agreement is frivolous and offers no real value. However, a postnup comes with several advantages.
What can prenups define?
As long as your agreement doesn’t violate the laws, prenups can be used to:
- Define spousal financial responsibilities: Outlining each spouse’s financial responsibilities in a marriage may help couples avoid conflict over money.
- Protect a child’s interests: Those who have kids from a previous relationship can protect their children’s inheritance with a postnup.
- Allocate debts and liabilities: Couples often use postnuptial agreements to define how each spouse manages their debts.
- Simplify divorce proceedings: If you and your spouse decide to get a divorce, an existing postnup can simplify the property division process.
- Address spousal support: A postnup allows couples to address the possible need for spousal support in the event of a divorce.
If you are one of many who believe that a postnuptial agreement is just a way to plan for divorce, consider talking with a legal advocate. Doing so can give you insight into how a postnup may improve your relationship with your spouse even if divorce is already a consideration.
Regardless of your current marital situation, a law professional can help you determine if you need a postnuptial agreement to enhance your immediate and future circumstances.