Top Reasons to Sign a Postnuptial Agreement
Most people have heard of prenuptial agreements at some point in their lives. This is an agreement signed before marriage that outlines who is entitled to which assets, child custody arrangements and assumption of debts accrued during the marriage. This document is only relevant if the couple who signed it gets divorced.
However, a couple can choose to sign a similar agreement after they are married called a postnuptial agreement. Unlike its counterpart, this document could prevent a couple from getting divorced.
What Is A Postnuptial Agreement?
A postnup is a legally binding document signed anytime after two individuals get married. Not only does it outline the division of assets in the case of a divorce, but it can also help a couple create an agreed-upon plan for during the marriage. For example, a postnup can be used for two people to agree upon how they are going to move forward together in the marriage when it comes to financial responsibilities.
Common Reasons For Signing A Postnuptial Agreement
Significant Change In Finances
- It is possible your financial situation could significantly improve after you get married thanks to a successful business or investment opportunity. You may want to consider putting an agreement in place to protect these assets.
Responsibility For Debt
- The stress that debt can place on a marriage can be fatal. A postnup allows both parties to agree on who is responsible for paying off which debts.
Planning For The Future
- A postnup can clearly lay out your financial planning for the future and require both sides to follow it. This includes investing, saving for college, and retirement plans.
Protection Against Illness
- No one likes to think about it, but people get sick and die every day. A postnup provides the peace of mind that your loved ones will be taken care of and your assets will be divided up according to your wishes.
Unexpected Children
- In some cases, married couples have children even when they did not plan to. This could complicate inheritances, especially when one or more individuals have children from a previous relationship.
Talk To The Experts
Deciding to even draft a postnuptial agreement can be an overwhelming decision. You have to consider if it is worth it and how exactly it would be laid out. The bottom line is that this is not something you want to do alone.
The team here at Strategic DivorceTM is exactly who you need to speak to before you take your next steps. This is because our team of experienced attorneys has spent decades in divorce law. They have helped countless couples protect their assets as well as save their marriages by creating a legally binding plan for their future.
Please call us at 847-234-4445 to set up your free consultation with one of our attorneys. During your initial meeting, you will be able to explain your entire situation to our team. They will examine your assets and provide options regarding the best plan for you and your family. We promise to answer all of your questions and have you leave our office with the confidence you need to make the right decision.
You can also schedule this free consultation online by filling out this short form.
Attorney Michone RiewerTM is a seasoned lawyer based in Lake Bluff, IL, focusing on Family Law. She brings a wealth of experience to matters of divorce, child custody, alimony, and beyond, aiming to provide clients like you with the insight you need to protect your family and move through the legal world with ease.
Connect with her firm, Strategic DivorceTM, to stay updated on the latest developments in Family Law and get in touch with an advocate who’s committed to helping you navigate the legal landscape in Illinois.
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