Understanding Prenuptial and Postnuptial Agreements
An increasingly common trend before and during marriage is the drafting and implementation of prenuptial and postnuptial agreements. These are legally binding agreements pertaining to property, financial support and child custody in the event that the marriage is terminated. Adultery,
divorce, abandonment and the death of a spouse are all issues that may be addressed by a marital agreement of this kind.
A prenuptial agreement, or premarital agreement, is entered into prior to a marriage. The specific issues that a premarital agreement may address will vary depending on the needs and concerns of the parties involved. Read more about prenuptial agreements.
Postnuptial agreements are entered into after spouses are already married. They are similar in nature to prenuptial agreements in that they may address financial support, alimony, child custody and property division in the event of a divorce or the death of a spouse. Read more about postnuptial agreements.
Benefits of Marital Agreements
There are various advantages to entering into a prenuptial agreement or postnuptial agreement. The specific benefits that you experience may vary depending on your financial situation, whether you have children and your specific needs and concerns. Read more about the benefits of marital agreements.
Why consider a premarital agreement?
There are many different reasons that a person may wish to consider a premarital agreement or a postnuptial agreement - especially when looking to protect your property. Though we do not wish to enter into a marriage with the idea that it will fail, a marital agreement may act as a type of insurance policy should the unexpected occur. Particularly as people are remarrying or are marrying later in life after they have acquired homes and other significant assets, these agreements have become more common. It is important to ensure that any marital agreement you enter into is thoroughly reviewed by a skilled lawyer before you sign, as it may have a considerable financial and personal impact on your life in the future.
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