Postnuptial Agreements are entered AFTER you are married.
Although each marriage is different, these scenarios are ones we frequently see where a postnuptial agreement:
- Someone is staying home to raise the children.
- A financially irresponsible partner protecting the other partner – so that in case of a divorce, the other spouse will not be responsible for the debts. This could benefit a failing marriage.
- Children from another marriage. Defining how you will distribute assets.
- An incident that you want to draft around. We have had couples will give their spouse another chance after infidelity on the condition that the spouse sign a postnuptial agreement with a provision, ‘If you do this again, I get X% of the assets.’
- Couples who have accrued wealth that they are concerned about losing in a divorce.
- A financially significant event has occurred such as an inheritance.
When you contractually come to terms, you and your spouse decide who gets what, and when without the court determining what is fair.