Q: Why would couples consider a postnuptial agreement?
Most people have heard of the prenuptial agreement because they are often referred to stereotypically in motion pictures as being needed before the marriage of a wealthy, old man and a pretty, younger “gold digger”.
In the real world, Reading marital agreement attorneys use prenuptial agreements in any situation—and often in second marriages—where a couple wants to decide before they are married what property will remain separate and what property will become marital property in the event the marriage fails.
Despite wanting one, some engaged couples are reluctant to ask each other for a “prenup” for fear the other will be hurt or insulted– or even call off the marriage. It can be awkward to bring up proposed divorce terms while registering for the china. So, many people bite their tongues and walk down the aisle hoping for the best.
If a couple does not have a prenuptial agreement, they can remedy the situation after the marriage by entering a postnuptial agreement, which does basically the same thing and then some. The postnuptial agreement specifies how the couple’s assets and debts will be divided in the event of divorce or death of one or both spouses and allows for other agreed-upon terms.
Why would a couple make a postnuptial agreement?
Entering a postnuptial agreement at a time when the couple is still in love and presumably agreeable allows the couple to approach a future division of marital property and debt in a level-headed and unemotional manner. Dividing marital property during a divorce can become confrontational and heated—and the longer it takes for a couple to agree or litigate over how marital property will be divided, the longer and more costly un-tying the knot becomes.
In addition to the division of marital property and debts, couples can also incorporate spousal support or alimony into their post-nuptial agreement.
Couples might draw up a post-nup to provide a penalty for adultery since most states don’t have a penalty for adultery in divorce.
In cases of sexual, emotional, or financial infidelity, a betrayed spouse considering giving the marriage another chance made insist on a postnuptial agreement that provides them greater security in the event of any eventual divorce.
Post-nups are also useful to protect a spouse wants to share a large inheritance for their family’s benefit while having the security of knowing they’ll recoup that money in a future divorce.
Contact the Law Office of Gary R. Swavely, Jr. Today
If you are interested in a pre-nuptial or post-nuptial marital agreement, or have questions regarding any other family law matter, the Law Offices of Gary R. Swavely, Jr. can help you. Contact us today to schedule a consultation.
From our office in Reading, Pennsylvania, we’ve been serving the legal needs of the people of Reading and the surrounding counties for over 25 years.