3 benefits of drafting a postnuptial agreement with your spouse

On Behalf of | Nov 5, 2021 | Divorce

Marital agreements are documents that spouses or engaged couples execute to protect themselves and guide their relationships. Most people know about prenuptial agreements, but fewer people are familiar with postnuptial agreements.

These documents largely perform the same functions as prenuptial agreements, with the primary difference being when the couple executes the document. There are many benefits to executing a postnuptial agreement, which is why those going through a period of change or difficulty in their marriage may want to consider if such an agreement would benefit them.

A postnuptial agreement can help you save your marriage

When one spouse cheats or indulges in bad behavior, like compulsive gambling, their spouse may begin considering divorce. Rather than immediately filing, some couples choose to negotiate a postnuptial agreement and possibly commit to couples therapy, too.

A postnuptial agreement can address problematic behaviors and may even apply penalties to those who make the same mistakes again that they have made before. For some couples, drafting this kind of agreement could help them save their marriage. 

A postnuptial agreement can help you reduce your risk

When one spouse wants to start a business or has engaged in financial misconduct of some sort, the other spouse could be in a vulnerable position as well. A postnuptial agreement could help protect one spouse from certain kinds of liability.

Signing a postnuptial agreement could also give you an opportunity to protect a recent inheritance or a business that you want to start by naming those assets as separate property in the event of a divorce.  Conversely, it could protect the spouse not starting a business from any liability associated with the endeavor. 

A postnuptial agreement will make divorce simple and predictable

Not every couple that negotiates a postnuptial agreement will remain married for the rest of their lives. Some of them will eventually get divorced. The terms that you set in your postnuptial agreement could allow for a very quick, uncontested divorce since you have already discussed matters like how to split your property or what kind of spousal support is appropriate.

Drafting a postnuptial agreement could be a way to protect yourself and possibly even protect your struggling marriage.

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