No one gets married with plans to divorce. Unfortunately, many marriages just don’t work out. A Prenuptial Agreement (aka a “Prenup”) is an agreement between you and your spouse—before you start thinking about a divorce—that details how to divide your assets, debts, and property, should you eventually decide to divorce. Having tough conversations with your current or future spouse about these issues and entering into a Prenup or Postnup could also serve to strengthen your relationship.
A Premarital Agreement, also referred to as a “Prenuptial Agreement,” or “Prenup” for short, allows you and your fiance to decide before you get married how to divide your property, assets, and liabilities if your marriage does not last. It is particularly important to consider a Prenup if you (or your spouse) have significant assets or debts. For those who have gone through a previous divorce, a Prenup allows you to protect yourself from a drawn-out legal dispute.
If you are considering a Prenup, or if your fiance asked you to sign a Prenup, we invite you to schedule an initial consultation with an experienced attorney who can answer your questions and help understand the process.
Postmarital Agreements, also known as a “Postnup,” is similar to a Premarital Agreement, except that you and your spouse enter into the agreement after you are married rather than before your marriage. Like with a Prenup, a Postnup is a contract that lays out how you plan to divide your property, assets, and liabilities should your marriage end in divorce.
A Postnup helps clarify a couple’s financial arrangements between one another, particularly when unexpected or unplanned changes happen after you are married and may help prevent a messy and drawn-out divorce. If you are already married, hiring an attorney skilled in drafting Postnups is critical to guide you through the process. If you are considering a Postnup, or if your spouse asked you to sign a Postnup, we invite you to schedule an initial consultation with an experienced attorney who can answer your questions and help understand the process.
Both Prenups and Postnups can be modified or terminated, but these changes must be done in writing. Tearing up the paper copy, burning it at a bonfire, or otherwise destroying the document does not automatically change its terms or terminate the agreement. Likewise, it is critical to keep records and act consistently with the Prenup or Postnup, since any actions taken that are inconsistent with the agreement (e.g. titling assets as jointly owned without the intent of making the assets jointly owned for purposes of the agreement).
If you and your spouse are considering modifications to a Prenup or Postnup, we invite you to schedule an initial consultation with an experienced attorney who can answer your questions and help understand the process.