Prenuptial Agreement & Postnuptial Agreement
A prenuptial agreement may address various marital situations such as the following:
- One spouse anticipates receiving an inheritance
- Estate Planning
- Financial protection from a future spouse
- Blended families where there are financial obligations to children from a previous marriage
- Business owners who do not want to involve their business in divorce litigation
- Disparities in the net worth and earning potential of the parties
A postnuptial agreement is essentially the same type of document as a prenuptial agreement, but it is entered into during the marriage. The postnuptial agreement is also referred to as a reconciliation agreement. In an article published this year by credit.com, The connection between prenuptial and postnuptial agreements and what happens to your credit when you get married and what happens to your credit when you get divorced becomes clear.
A prenuptial agreement is a legal contract that is entered into by two people who wish to be married.
Prenuptial agreements are most commonly used to protect premarital property and assets.These agreements are also used to limit, establish or eliminate alimony. Prenuptial agreements usually do not deal with child custody or child support.
Typically, a prenuptial agreement is a very sensitive matter to discuss with your potential spouse. However, it is a very important tool that can protect both spouses in the event of an unforeseen divorce or death. According to an article published via ABC News a few years ago, the postnuptial agreement is more important read more>>>
A properly drafted and executed prenuptial agreement will provide you and your spouse with the knowledge of how your marital property and debts will be divided at the end of your marriage. Prenuptial agreements can eliminate or substantially reduce the legal issues associated with a divorce.