Marriage is a union that is meant to bind two people together for life. For many couples who get married, the possibility that their relationship may end in the future is far from their mind. However, life can be unpredictable, and a variety of unforeseen events can occur that could potentially lead to divorce. Some couples may choose to prepare for this eventuality by creating a prenuptial agreement before they get married. Those who are already married can also create a legal agreement that will address how certain issues will be handled if they do decide to divorce in the future. These agreements are known as postnuptial agreements.
When Can a Postnuptial Agreement Be a Good Idea?
Postnuptial agreements are generally designed to help couples address financial concerns, and they can provide an added layer of protection in the event of a divorce. These agreements may include terms addressing ownership rights to certain assets, and a couple may make decisions about how different types of marital property will be divided in the event of divorce. A postnup may also address spousal maintenance (alimony) and determine whether one spouse will or will not pay support to the other and the amount that will be paid.
Spouses may want to consider creating a postnuptial agreement in the following situations:
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