Pre & Post-Nuptial or Marital Agreements
No engaged or recently married couple dreams that the marriage is going to end in a divorce. The sad reality is that many couples who were happily married find themselves facing a divorce. The reasons could vary from infidelity to differences in opinion over money. No matter the reason a couple decides to proceed with a divorce, it can be financially devastating if you have not prepared for such an emotionally difficult event. The knowledgeable attorneys at Henry & Beaver, LLP have the experience to help you protect your rights before divorce proceedings begin. We can help you draft a pre or postnuptial agreement to protect both parties in the event of a divorce.
What is a prenuptial agreement?
A prenuptial agreement is a legal document that states the ownership of respective assets should the marriage end in a divorce. Both parties agree to the terms and sign it before the marriage has taken place. Each spouse must adhere to the terms and conditions of the agreement should a divorce occur. Many people see a prenuptial agreement as resigning to the fact that the marriage will end in divorce, but that is not the case. An agreement of this kind is a protection for both spouses and should be viewed as a way to strengthen the marriage, as each party understands what the cost of a divorce would be.
What is a postnuptial agreement?
A postnuptial agreement is similar to a prenuptial agreement but it is signed after the marriage has taken place. It is still a binding, legal document that states the division of assets if the marriage fails. These can be especially helpful as the financial assets change over time and develop during a marriage. It can be especially important if the spouse who provides the main source of income changes. If such an event occurs, it is important to have a postnuptial agreement in place that properly divides the assets between both spouses if the marriage should end in a divorce. Again, this is to provide a protection to both spouses and should not be seen as a selfish act.
At Henry & Beaver, LLP., we understand how to draft strong pre and postnuptial agreements that will protect both spouses. While we hope that are clients will not have to face a divorce, it is important that they are prepared and protected.