Does Your Marriage need a Postnuptial Agreement?
Some couples consider a prenuptial agreement when they are getting married.
What if you weren’t one of those couples? Is it too late once you’ve been married to put something in place to address some of the important issues that may have been overlooked?
No, it’s never too late and that’s why in the later portion of the 20th century postnuptial agreements were introduced. Some think postnuptial agreements were a vehicle crafted in response to the increase in divorce rates in the 1970’s.
So what is a postnuptial agreement?
A postnuptial agreement is a written contract executed after a couple gets married or have entered a civil union. The purpose of this contract is to address and settle a couple’s affairs in the event of a separation or divorce.
When thinking about the issues to be addressed in a postnuptial agreement, I suggest you consider the following:
- assets, liabilities, income;
- expectations of gifts and inheritances;
- the status of gifts, inheritances, and trusts either spouse receives or benefits from, whether before or after marriage;
- how post-marital debts will be paid;
- decide who, or if both of you, will own or occupy the marital residence and secondary homes in the event of death or divorce;
- what happens to your marital property in the event of death or divorce;
- what happens to property-real estate, jewelry, artwork, antiques etc;
- alimony;
- maintenance;
- spousal support;
- children;
- death benefits- what you will provide for in your will.
I have been skillfully developing postnuptial agreements for decades!
If you are thinking of introducing one to your marriage call me.
I will guide you on all of the important issues to cover.
You can reach me for a free consultation at 212.734.1551.