Pre & Post Nuptials
Many feel prenuptial agreements only for the wealthy seeking to protect their interests before getting married. The truth is prenuptial agreements are more common and definitely easier to obtain today. This type of marital agreements are now able to serve the purpose of protecting assets and also provide those considering marriage peace of mind regarding current assets and future possibilities. Postnuptial agreements, are another type of marital agreement that can help a marriage continue on solid ground.
Make sure your agreement meets the basic requirements of a pre nuptial or post nuptial. Working with a highly experienced family lawyer such as Kenneth Rhoden, Esq., ensures you will have the protection of one who understands the role such agreements play in a legal union such as a marriage. Ken has over 35 years in practice and most of it litigating. Rhoden Law Group can help you draft a strong, enforceable, and fair agreement.
A series of articles written by Rhoden Law Group, will be helpful to you as you learn about pre-nuptials. The four parts are listed and linked below:
- Part 1: Prenuptial Intro
- Part 2: Preparing Prenuptial Agreements
- Part 3: Attacking Prenuptial Agreements
- Part 4: Enforceable Oral Premarital Contracts
Prenuptial Agreements: The Basics
Prenuptial agreements are contracts that couples enter into prior to getting married and typically spell out the ownership of assets currently owned and of items purchased during the marriage. These contracts are also helpful in the division of assets in case of divorce as well as spousal support amounts or limitations. These contracts, pre-nuptial agreements, are only effective after the legal marriage has been completed.
Postnuptial Agreements: Basics
Postnuptial agreements are similar to prenups. A primary difference is postnuptial agreements are used in situations after individuals marry, hence the use of “post” in the name.
Other reasons come to play when determining the need for a postnuptial agreement. They can affect the results in divorce by limiting or eliminating the equitable asset division and spousal support disputes that are common in divorces without pre or post nuptials.
Some life events can create a need for a postnuptial agreement (or, if received before the wedding, a pre-nuptial) such as a large inheritance of cash, property, or other assets. It is one way to preserve the inheritance for one spouse’s heirs rather than to pass to the spouse.
Postnuptial agreements may set reasonable expectations in order for a marriage to continue such as when substance abuse, gambling addiction, or irregular spending are causing the marriage to deteriorate. Typically this can not be anticipated prior to marriage but a post nuptial can help the parties.
Do You Need A PreNuptial? Review some top tips on prenuptial agreements.