A prenuptial agreement is an important tool for protecting couples in the event of a divorce, but if you and your spouse decided to forgo this contract before getting married, you may think it is too late now.
A postnuptial agreement is very similar to a prenup. However, this type of contract comes after you tie the knot. There are a few reasons to consider using such an agreement.
Financial uncertainty
If you see a big change in your financial circumstances, or if you want to safeguard against such a change, a postnuptial agreement can help protect you. For example, if one spouse has shown themselves to be financially irresponsible, a postnuptial can protect your most important assets and give you peace of mind.
If you want to start a business, a postnuptial can help to ensure that the business stays in your hands after a divorce. It can also insulate your spouse against the risks of a business failure.
Infidelity
If one partner has been unfaithful, it can be difficult to rebuild trust in the relationship. A postnuptial contract can help you both feel more confident in your marriage as you work together to restore that trust.
Stay-at-home parent
When one spouse chooses to give up education or career to raise the children, he or she takes a significant risk. If the marriage does not last, the stay-at-home parent may have trouble reentering the workforce. A postnup can help to provide for the stay-at-home parent.
Just as with prenups, a postnuptial agreement can be a difficult topic to bring up with your partner. Make sure to emphasize the benefits and listen to your spouse’s concerns.