The Use and Effectiveness of Postnuptial Agreements

I MISSED THE BOAT! CAN A POSTNUPTIAL AGREEMENT SAVE ME?

Even though some people would like to define who gets what and who pays what in the event of a divorce, they are often reluctant to enter  Prenuptial Agreements in anticipation of their wedding day. The reasons are many. Some are afraid to ask their partner in case of an adverse reaction and conflict prior to marriage. Some do not believe they will ever see the end to their soon to be marriage. Some do not think they have enough assets and debts at the time of the marriage to even worry about how to divide same.

Fast forward 5 years. Wife now owes her own business. The parties have had a chance to voice their opinions of who should keep the profits of Wife's business or be responsible for the debts associated with the business. This is only one example of where a postnuptial agreement could be helpful. Postnuptial Agreements can be drafted after the parties' marriage to establish what should be deemed sole and separate property and debt in the event of a divorce. Postnuptial agreements can also contemplate issues of payment or non-payment of spousal maintenance. Many of the same issues that are addressed in prenuptial agreements can be addressed in the drafting of a postnuptial agreement. So, long story short, you did not miss the boat!

The attorneys at LASITER & JACKSON, PLLC firm overview  are experienced in both consulting about the effectiveness of entering a postnuptial agreement and in the drafting of that agreement. Contact us to schedule a free 30 minute consultation to discuss your goals and the best way to achieve them!

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