When To Consider A Postnuptial Agreement
Like prenuptial agreements, postnuptial agreements can identify property interests for spouses and outline other aspects of a marriage. However, this document is drafted and signed after the wedding, unlike a prenuptial agreement that is signed before. Postnuptial agreements are becoming more popular, and there are certain situations when it may be in your best interest to consider utilizing a postnuptial agreement in your marriage. At Fort, Holloway, & Rogers in Williamson County, our experienced Tennessee family law attorneys are here to help you create a postnuptial agreement that protects your interests. To learn more, call or contact our office today.
One situation where a postnuptial agreement may help is when one, or both, spouses enter the marriage with wealth. If spouses have extensive premarital assets or anticipate inheriting wealth during the course of the marriage, a postnuptial agreement can identify each spouse’s property interests in case of divorce or death. This can often resolve serious property distribution disputes before they ever arise.
Another circumstance where a postnuptial agreement can be beneficial is when spouses are blending families with a child, or children, from another relationship. This type of agreement helps in both divorce and estate planning situations. For estate planning purposes, a postnuptial agreement can dictate the share of assets that each spouse and children receive, ensuring that family members receive the inheritance that you wish for them to get. Identifying these interests early in a postnuptial agreement can also diffuse probate litigation further down the line.
If one or both spouses hold business interests, either in their own company or others, a postnuptial agreement can be incredibly helpful. This is particularly true when a spouse starts their own business and wishes to protect it in case of divorce. Some business agreements even require that a prenuptial or postnuptial agreement is signed by all owners in order to protect the business from family disputes.
Some spouses simply feel uncomfortable approaching a subject like a prenuptial agreement prior to a wedding or do not feel like this type of document is necessary until after the marriage. Circumstances and opinions change over time, and if this is the case in your situation, a postnuptial agreement can still ensure that property interests are protected in case something happens.
The final situation where a postnuptial agreement may be helpful is when one spouse receives an unexpected windfall. This could be an unanticipated inheritance or gift that neither spouse expected to receive during the marriage and could not have been anticipated prior to the wedding with a prenuptial agreement. A postnuptial agreement can set aside an unexpected windfall for that spouse or divide it according to the wishes of the couple in case of a divorce or death.
Call or Contact Our Office
Do you have an interest in learning more about postnuptial agreements? If so, the experienced Franklin family law attorneys at Fort, Holloway, & Rogers are here to help. Call the office or contact us today to schedule a consultation.