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What is a postnuptial agreement?

On Behalf of | Nov 22, 2019 | family law, property division |

Most people have heard of prenuptial agreements, but if you are heading toward a high-asset divorce, it is likely a little late to be forming one of those at this point. However, more and more couples in Michigan and across the United States are seeing the benefits of creating postnuptial agreements. Whether you believe you are on the fast track to divorce or you’re just thinking of adding additional protection to your current union, postnuptial agreements may be a good idea. According to Findlaw, a postnuptial agreement is very similar to a prenuptial agreement and often addresses the same things, just that a postnuptial agreement happens after marriage and not before. 

There are several reasons to consider a postnuptial agreement. The first is if you do have prenuptial agreement but are finding that it no longer fits your current needs. A postnuptial agreement can help amend the prenuptial agreement to get things back on the right track. 

If you think that you are heading toward a divorce, creating a postnuptial agreement can help speed the actual divorce process itself, since the agreement will act as a guideline for the divorce. Generally this can help things go smoother (unless, of course, one of the spouses decides to contest, which can make things messier). 

Some people elect to use postnuptial agreements after one spouse has cheated, to add extra weight to the implications of a divorce due to infidelity. 

There are many reasons that couples choose to enact postnuptial agreements. In some situations, they can help organize and direct an ending partnership, or simply add more structure to an existing one.