Marriage is an exciting step in one’s life, and beyond committing to a shared lifetime of experiences, marriage can join individual assets, debts, and future earnings and liabilities. In addition to planning for the celebration, couples should plan for their future and how a prenuptial or post-nuptial agreement can help them navigate the road ahead. In the event a marriage ends in divorce or even death, a prenuptial or post-nuptial agreement can protect each spouse’s interests as well as save time and resources.
Prenuptial and Post-Nuptial Agreements Aren’t Just for the Rich and Famous
Many couples often ask, “Do I really need a prenuptial or post-nuptial agreement”? Prenuptial and post-nuptial agreements are not reserved for the rich and famous anymore. As more couples are starting their married life with more individual assets and a higher net-worth than in previous generations, prenuptial and post-nuptial agreements are increasingly common. Both prenuptial and post-nuptial agreements are legal documents that help couples decide how to protect their individual assets before or during marriage and often address factors such as spousal support, future income, retirement, asset division, and liabilities. However, neither a prenuptial or post-nuptial agreement can address plans for a couple’s existing or future children. Although both prenuptial and post-nuptial agreements clarify ownership during a marriage, the biggest difference between prenuptial and post-nuptial agreements is when they are created and signed.
When to Use a Prenuptial Agreement or a Post-Nuptial Agreement
Prenuptial agreements are signed before the parties are married (at least several days or weeks before the ceremony), and post-nuptial agreements are signed after marriage. Postnuptial agreements are entered into between spouses during a marriage for a variety of reasons including, to change the character of the property, clarify ownership of property, to amend or revoke a prenuptial agreement, or in the event one spouse suddenly comes into considerable wealth from an asset that had little value before the marriage.
If you are planning on getting married and want to protect you and your future spouse, an experienced attorney can help you navigate the process and protect your rights. The attorneys at The Reape-Rickett Law Firm are ready to help you; contact us today at (888) 851-1611 or reach us here.