The idea of signing a prenuptial agreement may have been too uncomfortable for you and your spouse. Now that you have gotten married, your minds are changing about having a prenup. Fortunately, it is not too late to protect your assets. Signing a postnuptial agreement may help you just as a prenup would have.
U.S. News and World Report explains different reasons why married couples may have a good reason to draft and sign a postnuptial agreement.
Dealing with financial changes
During your marriage, you or your spouse may have incurred a large amount of debt. Neither of you wants the other to shoulder that debt if you divorce. With a postnup, you can dictate the kinds of debt that should not carry over to the other spouse.
Conversely, you or your spouse may come into a lot of money. You may use a postnup to address which share of money remains the personal property of the spouse and what the other spouse should get in a divorce. A postnup can also provide for a spouse who chooses to stay home and care for the children instead of working.
Providing for children from prior marriages
If you have children from a previous marriage or relationship, be aware that your assets might not go automatically to those children. Instead, a probate court may award your spouse the bulk of your estate. If you want your children from a previous relationship to inherit from you, consider spelling it out in a will and reinforcing it with a postnuptial agreement.
Dealing with married life
You probably had a rosy vision of married life, but now that you know what everyday life with your spouse is like, you may want to account for that in a postnuptial agreement. Even in worsening circumstances like infidelity, a postnuptial document may help. A postnup may serve as a fruitful collaboration that strengthens your relationship, plus it may give the two of you peace of mind in the event infidelity occurs again.