Prenuptial agreements, as the name implies, happen before you get married. In fact, that’s one of the key points when you draft one: It has to happen long enough before the wedding that it doesn’t look like either party signed it in a rush or under duress.
However, couples also use post-nuptial agreements. These are very similar in nature, but they’re drafted by couples who are already married. Why would they want to do this?
The reasons, of course, vary from one couple to the next, but a common one is that one spouse exhibits some sort of negative behavior that the other spouse wants to control. For instance, it could be adultery or a gambling addiction or a substance abuse issue. By agreeing to financial ramifications in a potential divorce if the problems persist, that person gets extra incentive to act the way that they both want. This can, in some cases, even save the marriage.
Another reason for a post-nuptial agreement is when there are serious financial changes. Maybe one spouse was starting a business when they got married and did not bother with a prenup. Ten years into the marriage, that business is now worth $10 million, and they want to protect it from a potential divorce. Other factors could include extra debt or an inheritance.
Are you thinking about using a post-nuptial agreement and wondering how it works or what rights you have? If so, you’ll be glad to know that our informative website can answer many of your most pressing questions and get you started down this path with confidence.
