The Difference Between Prenuptial and Postnuptial Agreements
by
Daniel M. Copeland on Aug. 15, 2014
Divorce & Family Law Divorce Lawsuit & Dispute Mediation Divorce & Family Law Family Law
Summary: Weddings should be one of the happiest moments in any person’s life and they definitely are if the right precautions are taken. Of course, matrimony is all about love, but you also have to think about the long haul - including prenuptial and postnuptial contracts.
Weddings should be one of the happiest moments in
any person’s life and they definitely are if the right precautions are taken.
Of course, matrimony is all about love, but you also have to think about the
long haul. Your assets need to be protected in the case divorce becomes a
result down the road. In fact, getting a contract written out isn’t a sign that
you don’t have faith in the marriage. Today, it’s basically a standard
procedure so you don’t lose or gain anything of importance. These agreements
are much needed for financial planning, just in case anything unexpected
happens.
What are the different kinds of agreements? Well,
there are both prenuptial and postnuptial contracts. This is what they entail:
Prenuptial Agreements
These types of agreements are commonly referred
to as “pre-nups” and are signed well before the marriage actually takes place.
What is this agreement exactly? Prenuptial
agreements are legal contracts that discuss what finances and properties belong
to each party, just in case a divorce or some other kind of similar
circumstance happens. However, there are no set rules when it comes to
pre-nups, so both individuals have a say about what gets put into these
contracts. It’s really up to the couple
how detailed the contract is. It can include information on everything from how
much money you’ll get according to how long you’ve been married to what happens
if one party cheats on the other. For the most part, these contacts are very
iron-clad, so there’s not much room for questioning. However, there have been
cases in the past where they’re challenged, so make sure that a qualified
family attorney is helping you draft one of these. At the end of the day, you
want everyone involved to be adequately protected and informed.
Postnuptial Agreements
Opposed to pre-nups, postnuptial agreements are
written out after the couple is married. You may be wondering, then, what the
point of these contracts are? Well, they call out specific issues going on in
the marriage and come up with a solution for the problem. Postnuptial
agreements can go into detail about financial issues like current debts, who
gets what out of the marriage, as well as emotional aspects like what happens
if one of the spouses starts neglecting the other.