You may have heard of a pre-nuptial agreement, commonly known as a pre-nup. However, the mentioning of a post-nuptial agreement may leave you wondering what it is and exactly how it works. Similar to a pre-nup, a post-nuptial is a legal agreement entered into by both spouses after becoming married. The main difference between a pre-nup and post-nuptial is when the couple enters into the agreement, before marriage (pre-nup) or after marriage (post-nup). A couple may elect to establish a post-nuptial agreement for the same reasons a couple would agree to a pre-nup. This agreement essential lays out how assets and debts will be allocated in a divorce or even the death of a spouse.
As life happens, it is important to recognize that not everything can be expected to be the same as the day vows were exchanged. Factors such as finances, inheritances, investments, business ventures and even children can be game changers in a couple’s life.
A post-nuptial agreement allows an individual to establish safeguards to protect their investments, retirements and other assets, from martial division in a divorce, especially if the other spouse chooses not to partake. In addition, couples with blended families may want to protect their biological children’s inheritance or ensure additional children are cared for in the future.
A post-nuptial agreement can even limit the amount your spouse can receive from their own business earnings or eliminate one spouse’s liability from financial obligations resulting from a judgment against the other spouse or their business.
If you believe that entering into a post-nuptial agreement is necessary or beneficial, the following suggestions may be helpful in starting the conversation with your spouse:
Let a reliable attorney such as those at McGuire & Bullard make the journey seamless and satisfying. Contact the Law Offices of McGuire & Bullard firm today at 678-432-1100 or by email at info@mcguirebullard.com . Our firm has the knowledge and resources to assist you and your unique needs.
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