If you didn’t get around to creating a prenuptial agreement before your wedding day, there’s still an option available to you: A postnuptial agreement works much the same way. The only way that postnups differ from prenups is that they are agreements created after a marriage begins.
Here are some of the best reasons to consider a postnuptial agreement:
- To protect children from previous relationships, such as if you want to leave them specific assets after a remarriage
- To outline spousal support agreements when one party agrees to forgo a career in order to support their spouse’s efforts or care for the children
- To protect assets associated with a business that you own and carve out an exception to marital property laws
- To protect against a situation in which the court makes property and debt division decisions on your behalf
Should you decide that a postnuptial agreement is something you want to consider, it’s time to share your feelings with your spouse. When doing so, here are some tips to follow:
- Focus on the benefits such an agreement can have for both of you.
- Don’t pressure your spouse to a commitment.
- Take your time as you talk about what to include and what to leave out.
Along with the above, make it clear that this isn’t your way of saying you want a divorce. It’s simply a step that you want to take so that the two of you can manage a split amicably if something should happen in the future.
With so many reasons to consider a postnuptial agreement, it’s worth having this conversation with your spouse. If you decide in favor of it, learn more about the creation process and the steps you must take to make the agreement legal.