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Family Law: Why You May Need a Postnuptial Agreement

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Prenuptial and postnuptial agreements are fundamental issues clearly outlined in family law. You may already be familiar with a prenup. But to jog your mind, in a prenup, the couple prepares and signs the document before tying the knot. It is an agreement that helps draw a line for asset sharing in the event of a divorce or death. The agreement can also clarify financial rights during the marriage, among many other things. 

On the other hand, a postnuptial agreement is similar to a prenup, but you draft it after marriage. So, if you skipped the prenup part before marriage, you still have a chance to protect your assets with a postnup. Like a prenup, a postnuptial agreement has numerous benefits, including the following. 

It Encourages Communication

Asset sharing, inheritance, and debts that come up during marriage are sensitive topics, more so for newlyweds. But since they are inevitable, you should find time to discuss them with your spouse before getting far into the marriage. With the discussion and agreement, everything will come to light, and everyone will know what to expect in the union. By doing this, you save yourself from many misunderstandings down the line. Ensure to involve a family law practitioner for professional advice. 

It Helps Strengthen Your Marriage

For many people, signing postnuptial agreements is like casting a spell on your marriage. They feel that these documents are ingredients for divorce. But that is far from the truth. In the event you marry a spendthrift spouse who does not care about their habit, they might drive you into massive debt and never-ending quarrels. However, if you sit down and amicably set boundaries through a prenuptial agreement, you will have peace of mind and strengthen your marriage.

It Saves You from a Complicated Divorce

Divorces have been around for many years, and the rates increase daily. In as much as you have dreams of a happy ever after marriage, do not ignore this fact. In case it happens, you want to avoid the unnecessary drama that comes with it. When you and your spouse agree on how to split your matrimonial assets, you will make the dissolution of your marriage a lot easier. When divorce or death comes knocking, you will both be aware of the steps to take. 

Are you thinking of a postnup? Ensure to contact a family law office for legal advice. By doing this, you will be in a position to make a more informed decision.