After the wedding, couples can opt to have a postnuptial agreement. This agreement plays the same role as a prenup agreement in ensuring that the spouses are secured and protected in the marriage. Arguably, postnuptial agreements are considered to be the foundation of lasting marriages that built on a solid foundation of mutual trust.
Hiring an experienced Queens postnuptial attorney to help with the drafting of your postnuptial agreement is important. Your lawyer will help you come you come up with a balanced postnuptial agreement that fulfills all legal requirements for such an agreement. There is no need to waste time in drafting an agreement that will not be enforceable in court. Get it right from the onset and let our professional team of Queens postnuptial lawyers help you with drafting your postnuptial agreement.
Benefits of a Postnuptial agreement
Postnuptial agreements offer couples a wide range of benefits. Here are some of them:
i. Encourages financial unity and openness in marriage
A postnuptial agreement helps couples to open up about their assets, debts and liabilities to each other. This in effect places the spotlight on the finances of each spouse enabling them to discuss how to handle all debts and liabilities and how to manage their marital assets. Additionally, couples can discuss whether they would like to merge their insurance, bank accounts, trusts, estates and other accounts for ease of management. The postnuptial agreement can also describe how marital assets, debts and liabilities will be shared between the couple in the event of a divorce.
ii. Sets out how marital property will be divided
It is ill-advised to engage in property division during a divorce. In the absence of a prenup or a postnuptial agreement, you might be forced to brave the storm that comes with having to decide on how your property will be shared between you and your Ex. Imagine the emotions that come with contested divorce proceedings and now you have to add a gruesome fight with your ex over who owns what or who should keep which piece of furniture. Instead of chancing, you can choose to have a postnuptial agreement drawn up with details of how your property will be divided in case you decide to part ways with your wife or husband.
iii. Secures the financial future of your children
Children from previous marriages risk losing a huge chunk of their inheritance when their parents remarry. As caring parents, you need not expose your children to consequences they never signed up for. What you need to do is to have a postnuptial agreement in place detailing the portion of your assets that will be locked in a trust for your children. When a second or third divorce happens, your sharable asset will exclude the amount that you will have tied up in a trust for your children’s inheritance.
iv. Protection from a spouse with ulterior motives
Sadly, not everyone marries for love; some marry for the money. These “gold diggers” have the habit of getting into a marriage with the hope and intention of making a killing from the assets of their rich catch. Don’t let love blind you. Have a postnuptial agreement that sets up conditions that will not leave you poorer that how you got into the marriage. Choose the person you marry wisely, but above all else, protect your own interest in the marriage.
How an attorney can help
Do you have a prenup? If not, it isn’t too late for you to protect your interest in your marriage. Speak tour skilled Queens Postnuptial Lawyers who will guide you on how to come up with a legally binding postnuptial agreement. Contact us today for a free initial consultation.