Addressing the financial aspects of a divorce is something that many people prefer to avoid until the time comes when it becomes necessary. They think that if they make plans and set rules for ownership and division of assets, it is a sign that they are not confident in a marriage. However, the truth is making these plans by signing a prenuptial agreement is not an indication of anything other than an interest in protecting individual financial interests.
Another misconception is that if you don't sign a prenuptial agreement, you will have no options to make these financial determinations later on. However, the fact is if you don't have a prenup, you can still complete a post-nuptial agreement after marriage, which can serve the same purpose.
A post-nuptial agreement can be created at any time after a couple gets married and before they divorce. There are specific requirements that must be met in order for these documents to be valid and enforceable so it is wise to have an attorney help you figure out the proper steps you need to take to create and review these legal documents.
People consider post-nuptial agreements for a number of reasons after marriage. In some cases, the financial status of spouses has changed considerably over the years and one or both people want to clearly define ownership of assets and debts. If one spouse decides to stay at home with the kids and steps away from the workforce, a post-nuptial agreement can reset financial expectations for after a potential divorce.
It should be noted that many people do create a post-nuptial agreement if their marriage is on the rocks. As this ABC News article points out, it can provide some peace of mind knowing that both people are still committed to a marriage, or it can act as a safety net if efforts to reconcile are unsuccessful.
Whatever reasons you may have for considering a post-nuptial agreement, it can be crucial that you explore your options with an attorney. With legal guidance, you can find solutions that help you protect yourself, your finances and your future.