Should I consider a postnuptial agreement?

Should I consider a postnuptial agreement?

It is likely that you are familiar with a prenuptial agreement: it is when both parties of a marriage get together prior to the knot being tied and decide on matters of legal and financial import. They tend to be very common in marriages in Michigan where one party comes into the marriage with considerably more assets than the other party, or perhaps where one party owns a business or something that could become contentious in the event of a divorce. However, what you may not know is that many already-married couples are entering into postnups. According to Forbes, a postnuptial agreement can be identical to a prenuptial agreement, only they happen after marriage.

Particularly if you are already in the throes of divorce, you may be wondering about the value of a postnuptial agreement at this point. Why not just get divorced? The reality is that the value to a divorcing couple depends entirely on the situation. Assuming that the divorce is mutual and amicable, having a postnuptial agreement can make the divorce process go smoother and faster, since you can iron out all of the details beforehand. Some couples find this preferable to figuring this all out at the same time as separating the legal union.

Another thing that postnups can potentially do is save a marriage. If there are certain pain points that need addressing in the relationship (for instance, infidelity or substance abuse), it is possible to create a postnuptial agreement that addresses these. For some, a postnup can actually save a marriage.

Depending on your personal divorce or current marital situation, a postnup can be helpful in many ways.

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