When couples get married, especially couples bringing in sizeable amounts of assets into a marriage, many of these couples consider writing up a Post nuptials Agreement. Many people confuse this with a prenuptial agreement, but the two are somewhat different. While the documents do basically the same thing, a post-nuptial agreement is one that is written up after a couple has been married while the prenuptial agreement is done before the marriage occurs. The question you may have is whether or not this type of agreement right for you.
The first thing to understand is that these agreements will need to be regularly updated . As assets within the marriage change, the agreement made six months after the marriage may not cover newly acquired assets. What happens, in this case, is that the very thing that the Post nuptials Agreement was meant to avoid can actually happen should the couple decided to divorce. Various assets could lead to extended court battles, which can be emotionally draining and fairly expensive.
If you have recently married and you and your spouse have a significant amount of individual assets, it may be a good idea to speak with an attorney about this type of post-nuptial agreement. When you speak to an attorney, they can take the time to inventory you and your spouses assets. They will also negotiate between you and your spouse to come up with an agreement that can be enacted should either of you decide to divorce the other.
As stated before, these agreements will need to be kept current with any assets that are accumulated after the marriage. In some cases, these assets may be considered communal property and can be handled in a divorce agreement. However, assets that were purchased before and during the marriage will need to be clearly delineated in this type of agreement to avoid any undue legal battles over the ownership of these new assets.
Nobody likes to think about getting a divorce, especially right after being married, but things like this do happen from time to time. If you and your spouse have significant assets that you’re bringing into the marriage, it’s a good idea to have a plan in place to ensure there are no extended legal battles concerning the ownership of assets purchased prior to the marriage.
Visit Rohetwyman.com for further details.