When people get engaged, they often have an idealistic concept of what their future will hold. Many couples with stars in their eyes think that there is absolutely no point in negotiating a prenuptial agreement because they will enjoy wedded bliss uninterrupted by the complications of spousal misconduct.
Eventually, family circumstances will change and potentially force the spouses to develop a more realistic idea of marital life. Numerous major family events could inspire a married couple to negotiate a postnuptial agreement.
The birth of a child
You would always talk about wanting children before you got married, but you may not have really explored the practical implications of growing a family together. A child means around-the-clock responsibility and also thousands of dollars in childcare expenses each month.
Some families eventually realize that it is simply more cost-effective and better for the children to have one parent stay home. The spouse agreeing to sacrifice their career for the family may want to negotiate a postnuptial agreement that guarantees them certain protections in the event of a divorce.
The death of a loved one
When someone in your family dies, that loss will have a profound impact on your family’s emotional life. Sometimes, it will also have a financial impact because you stand to inherit property from a parent or other family member. What someone inherits is usually separate property in the event of a divorce, but you may want to add the additional layer of protection that a postnuptial agreement can provide.
A major marital conflict
Did your spouse lose their car at a casino by using it as collateral for funds for bidding? Did you discover an extramarital affair that has damaged your faith in your partner and made you question if your marriage is even salvageable?
A spouse coming to terms with misconduct by their partner often has to consider their financial, physical and legal protection in addition to their emotional response to the situation. A postnuptial agreement can help both of you recommit to the relationship and possibly create penalties for your spouse if they repeat the same misconduct in the future.
Drafting a postnuptial agreement can help couples work on their marriages and also protect themselves if they do decide to divorce.