For one reason or the next, you didn’t discuss the creation of a prenuptial agreement with your partner before your wedding day. If you regret this decision, there is nothing you can do to go back in time.
However, there may be another answer: a postnuptial agreement.
As the name suggests, a postnuptial agreement is created after your wedding day. It works in the same manner as a prenup, with the only difference being when you create the legal document.
Should you consider it?
When everything is going well in your marriage, you don’t want to potentially stir things up by discussing the creation of a postnuptial agreement. However, things can change over time, so neglecting to take this step could end up costing you in the future.
Some of the reasons to sign a postnuptial agreement include:
- To protect any assets that you brought into the marriage
- To protect against owing on debts that your spouse brought into the marriage
- To protect the inheritance rights of any children from previous relationships
- To give a spouse who quit work to care for their children financial peace of mind in the event of a divorce
- To add clarity to the property and debt division process in divorce
Do you have a valid postnuptial agreement?
A postnuptial agreement isn’t something you throw together one day, sign and then put in a drawer with hopes that you never need it. It’s a legal document that requires special attention, as there are specific laws in place that govern what you can and can’t include.
Here are some of the most common reasons why the court deems a postnuptial agreement invalid:
- You opted for an oral agreement, not one that is in writing
- One individual did not read the postnuptial agreement
- One individual forced the other person into signing it
- The inclusion of invalid provisions
- The inclusion of inaccurate or misleading information
- An agreement that is extremely unfair to one individual
Don’t worry if you didn’t create a prenuptial agreement. You can make up for it by discussing the benefits of a postnuptial agreement with your spouse. If you both agree to proceed, it won’t be long before you have a document in place that gives you the peace of mind you’re seeking.