A postnuptial agreement, or postnup, is a legal document that spouses sign after they’ve already gotten married. Postnups are very similar to prenuptial agreements (or prenups), but they’re made after the marriage has taken place.
Postnups can be used for a variety of reasons. Perhaps you want to protect your assets in case of a divorce. Or maybe you want to ensure that you and your spouse are treated fairly in the event of a split, after a major accident, or after death. No matter what your reasons may be, postnups can provide valuable protection for you and your loved ones.
Simplify the Divorce Process
Postnups can help simplify the divorce process. If you and your spouse have already agreed on how property will be divided before you start divorce proceedings, there’s less chance for disagreement and conflict. This can make the divorce process smoother and faster for everyone involved.
Protect Your Assets
One of the main benefits of post-nuptial agreements is that they can help protect your assets in the event of a divorce. If you and your spouse split up, a postnup can ensure that you both get a fair share of the marital property. This can be especially helpful if one spouse is wealthier than the other.
Prevent Fights in Case of Divorce
Postnups can also help prevent fights between spouses during a divorce. If you and your spouse have already agreed on how property will be divided in the event of a split, there’s less chance for conflict and bitterness. This can be especially helpful if you have children and want to avoid any unnecessary stress during a difficult time.
Protect your Spouse and Family in the Event of Your Death
If you die suddenly, your postnup can ensure that your spouse is taken care of financially. This is especially important if you have children from a previous relationship. Your postnup can provide your spouse with money to take care of the kids and cover other expenses.
Postnuptial agreements offer a variety of benefits for married couples. They can help protect assets in the event of a divorce, prevent fights between spouses, and provide financial security for your spouse in the event of your death. If you have questions about creating a postnuptial agreement, contact Chung & Ignacio, LLP today.