Prenuptial Agreements are often considered taboo, but they can provide much needed clarity for a couple who decides to end their marriage. Likewise, a Postnuptial Agreement can also be extremely helpful in the event of a divorce.
If you are already married, the opportunity for signing a Prenuptial Agreement has passed. However, a Postnuptial Agreement is still a viable option. A Postnuptial Agreement requires full financial disclosure and must identify what property has been obtained by the parties during the course of their marriage.
A Postnuptial Agreement will need to address how to distribute the assets jointly held by the parties in the event of divorce. Like a Prenuptial Agreement, a Postnuptial Agreement will need to be very specific and clearly identify how each asset will be disbursed. While both types of agreements can be beneficial when a marriage ends, a Prenuptial Agreement is slightly less complicated as no marital property has yet to be established. However, for people who are already married, a Postnuptial Agreement can be very helpful in ensuring that the divorce process runs smoothly and efficiently.
If you are considering marriage now is a good time to also think about a Prenuptial Agreement and if you are already married but want to alleviate your concerns about what may occur if you were to ever divorce, then a Postnuptial Agreement is a good way to do so. At the law offices of Iafrate & Salassa, we can draft a Prenuptial or Postnuptial Agreement to provide you with peace of mind regarding your financial future. Call us today at 586-263-1600 to learn more.