Pre & Post-Nuptial Agreements
A Prenuptial Agreement is a contract that couples choose to enter into before they are married that sets forth the terms if they choose to separate or divorce. A Postnuptial sets forth such terms but is entered into after a couple is married.
Many couples have a negative impression of Pre and Postnuptial Agreements because they believe the Agreements question the parties’ devotion to their marriage. The reality is that Pre and Postnuptial Agreements are appropriate and necessary for many couples. They are used to prevent the fighting, uncertainty and expenses in the event of a separation or divorce. A Prenuptial Agreement is a way for couples to consider how they will handle their finances during the marriage and to speak about that sensitive issue with each other.
Possible Circumstances Under Which a Prenuptial or Postnuptial Agreement Might Be Necessary:
- When there is a large disparity in the spouses’ assets, debts or income
- When one spouse is expected to receive a large inheritance
- When one or both spouses have children from a prior marriage
- When, during the marriage, one spouse’s career may take off and earnings including bonuses may increase dramatically
- Same-Sex couple planning. If the couples are not married and do not plan on getting married, the couple could benefit from a partnership agreement.
Pre and Postnuptial Agreements must be drafted carefully and be specific to each couple’s needs. A Pre or Post Nuptial Agreement can be incorporated as terms of a parties’ divorce. For more information, contact us at Rosenthal & Markowitz to schedule a consultation.