The Ins and Outs of Prenuptial and Postnuptial Agreements
Marriage can be a beautiful thing, and it’s important to start on the right foot—one way to do this is by understanding prenuptial and postnuptial agreements.
These legal contracts help protect the assets and interests of both parties in case of divorce or death.
Prenuptial Agreements—What Are They, and How Do They Work?
Prenuptial agreements are legal documents that outline how property and assets will be divided in case of divorce—they can also include provisions regarding spousal support and other financial matters.
According to a recent survey by the American Academy of Matrimonial Lawyers, 62% of attorneys reported an increase in the number of millennials requesting prenuptial agreements.
Postnuptial Agreements—How Do They Differ From Prenuptial Agreements?
Postnuptial agreements, as the name suggests, are legal contracts entered into after marriage—they can also cover property division and other financial matters.
However, they can also address issues that have arisen during the marriage, such as infidelity or substance abuse.
Benefits and Drawbacks of Pre- and Postnuptial Agreements
Prenuptial agreements aren’t just for the wealthy. They have a variety of benefits in the event of a divorce or separation.
Some of the benefits include:
- Protecting your assets;
- Avoiding costly legal battles; and,
- Providing clarity in the event of a divorce.
While there are certainly benefits to entering into prenuptial and postnuptial agreements, it’s important to understand the drawbacks as well.
Some drawbacks include:
- The potential for uncomfortable conversations;
- The possibility of reducing romance; and,
- The possibility of reducing trust in the relationship.
Get Ahead of the Game with Prenuptial and Postnuptial Agreements
Don’t wait until it’s too late to protect your assets and interests—consider working with an attorney to create a prenuptial or postnuptial agreement.
Contact the Dishowitz Law Group today—by phone at 1(833)918-3310 or send us an email at bdishowitz@sflalaw.com—to discuss how a prenuptial or postnuptial agreement can protect your assets and your future.
About Dishowitz Law
Dishowitz Law provides counsel to hundreds of individuals, families, and businesses involved in complex legal disputes, including estate planning, probate, estate disputes, general litigation, and landlord-tenant law. For more information, call 1 (833) 918-3310, email bdishowitz@sflalaw.com, or visit https://dishowitzlaw.com/contact/.