Couples have a couple of options for creating an agreement that will protect each of them in a divorce.
A couple can do this either before or after marriage. Before marriage, it would be a prenuptial agreement. After marriage, it is a postnuptial agreement. The two are similar in their end goal, which is outlining what would happen if the couple separates, but they also have some distinct differences.
Postnuptial agreement points
A postnuptial agreement goes into creation after a couple is already in the midst of their marriage. It allows the couple to know how they will act as a couple and gives them a chance to know each other better before entering this contract.
In addition, there is no awkwardness as the love goggles are off and both parties can really appreciate the need for this type of agreement without getting all emotional about it. It may not feel so offensive to the other party when one spouse suggests creating it.
Prenuptial agreement points
A prenuptial agreement allows couples to set expectations prior to marriage. If they cannot agree on the financial points, they may spare themselves heartache in the long run. In addition, it gives the couple time to think on their own because they are not already in a legally binding relationship.
Any type of marital agreement can be tough to propose because of the implications. Still, it is a smart move to have one in place because divorce does happen, it can streamline the process and make it much easier for everyone. Please contact our law firm to discuss creating a pre or postnuptial agreement.