Most people have heard of a Prenuptial Agreement, but have you heard of a Postnuptial Agreement? What exactly is the point of this, and are you considering this for your current relationship? When a marriage occurs, you have to remember that it is more than a piece of paper and a ring on your finger. When joining two lives together, you need to consider the financial aspect of this and what exactly it means for both parties.
Do you have a joint bank account? Are you choosing to keep them separate? Just going over basic ideas and decisions like this can make your financial decisions for your marriage easier and less stressful. A Postnuptial Agreement is a contract that both parties enter into to decide how the money would be split up in case of a divorce. No one enters into a marriage with the idea of potentially separating at a later date, but it is always important to talk about the “what ifs,” and make sure that you reach an amicable agreement; especially while you are on good, level-headed terms. Is this your first marriage? You may not be considering this option. Have you already gone through a divorce and entering into your second marriage? When this happens, you understand the repercussions that come from a divorce and this allows you to have options and knowledge about what would happen if things did not work out. We suggest that you consider this option after marriage as a precaution. We would be happy to sit down with you and your spouse to talk about what we can do to help and what this process entails.