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. They might be particularly helpful when doing estate planning to provide certainty for the parties and for the parties’ parents.
Possible Circumstances Under Which a Prenuptial or Postnuptial Agreement Might Be Necessary as part of Estate Planning for the Parties’ Parents:
- When the parents of one spouse want to make major gifts to one of the parties.
- When the parents of one spouse want to leave substantial assets to one of the parties as part of the parents’ estate plan.
Possible Circumstances Under Which a Prenuptial or Postnuptial Agreement Might Be Necessary as part of Estate Planning for the Parties:
- When the parties have been previously married to protect the interests of the “first family”.
- When the parties have children from prior relationships to protect the interests of the “first family” Pre and Postnuptial Agreements must be drafted carefully and be specific to each couple’s needs. For more information, contact us at Rosenthal & Markowitz to schedule a consultation.