When you think of marriage-related legal paperwork, the first thing that probably comes to mind is a prenuptial agreement. Signed before exchanging vows, it outlines how assets are divided should the marriage end. But what happens if you need the same security after getting married?
That’s where postnuptial agreements come in.
In this article, I break down what these agreements are, how they differ from prenups, and the various scenarios in which they may come in handy. I also discuss the legal requirements and factors to consider before signing one.
What is a Postnuptial Agreement?
A postnuptial agreement is an official contract signed after marriage that specifies property division, spousal support, and the distribution of assets in the event of a divorce. It may also contain a number of other provisions, from investments during the marriage to marital conduct and responsibilities.
Essentially, a prenup and postnup serve the same purpose, with the key difference being timing. The former is executed before tying the knot, while the latter is signed after.
Common Reasons Couples Opt for a Postnup
As unromantic as postnuptial agreements are made out to be, in reality, they are quite practical financial tools that protect individual interests. Getting one isn’t a “deal-breaker” or an indication that your marriage is on shaky ground.
Instead, they represent smart planning from both parties, regardless of what happens down the road. Some of the most common reasons my clients give for choosing a postnup include:
- Entered Another Marriage: Those entering their second, third, or even fourth marriage want to avoid the messy disputes they faced during a previous divorce. A postnup helps them clarify financial obligations so they don’t go through the same ordeal.
- Have Children from a Previous Marriage: Couples with children from a prior marriage want to make sure those kids are financially cared for, no matter what happens.
- Significant Pre-Marital Assets: One spouse brought substantial assets like property, investments, or even a business into the marriage, they want to safeguard those from being subject to division.
- Changing Financial Circumstances: A sudden financial windfall – like a big promotion, inheritance, or other income boost – sees couples reevaluate their financial arrangements.
- Business Ownership: Clients who own a business use postnups to protect their company from being divided in a potential divorce.
- Debt Protection: One spouse has significant debt, and the other spouse does not want to be liable for it if the marriage ends.
- Stay-at-Home Parents:Spouses that have left or plan to leave their career to care for the home and children use postnups to ensure financial protection in case the marriage dissolves.
- Rebuilding Trust After Issues: Couples who are working through marital issues prefer to have a postnup as part of their reconciliation process.
In all these cases, a postnuptial agreement provides peace of mind by clearly defining financial responsibilities and expectations. And remember, a postnup isn’t written in stone—it can be changed down the line if life takes an unexpected turn.
However, revisiting the agreement isn’t something you can casually handle over a conversation at the dinner table. You have to go through the proper channels to ensure the changes hold up in court. If not done correctly, you could be looking at an unenforceable piece of paper and a whole new set of problems.
That’s why consulting with an affordable family lawyer like myself is crucial. We make sure the revised agreement doesn’t just serve both parties’ interests—but also stands up when it matters most.
Legal Requirements of a Postnuptial Agreement
To be legally enforceable, a postnuptial agreement must satisfy specific criteria. Pennsylvania law requires the following:
Both parties entirely disclosed their assets and debts: both spouses fully and honestly disclosed their financial information. If one party hides assets or underreports liabilities, the agreement could be invalidated.
The agreement was entered into voluntarily: Both spouses must agree to the terms without any coercion or pressure. If one spouse feels they were forced to sign, the agreement may not hold up in court.
It’s fair and reasonable: Courts will also assess whether the agreement is fundamentally fair to both parties. While courts tend to uphold postnuptial agreements that were entered into knowingly and voluntarily, an agreement that heavily favors one party might face scrutiny.
Factors to Consider Before Signing a Postnup
As a family lawyer, I genuinely believe that both prenuptial and postnuptial agreements are worth looking into and not just for their financial benefits. They also give you a voice in your future rather than having it dictated by a judge.
However, that is not to say that every couple needs one. I always tell my clients to think carefully about what’s right for them based on several key factors, starting with their financial situation – and I’d advise you to do the same.
First, take the time to assess your assets, debts, and overall financial standing. Then, ask yourself:
- What do you want the agreement to protect?
- What would you need to feel secure if your marriage ended?
At the same time, consider your long-term financial and personal goals:
- Will one partner be going back to school, starting a business, or taking a career break?
- How does this agreement fit into these situations?
- What changes might you anticipate down the road that could affect the terms?
While postnuptial agreements are practical, they do involve some tough conversations – even more so than prenups. If one of you feels hesitant or pressured, it can create tension that defeats the purpose. Honest and open communication is key here to make sure you and your spouse are on the same page.
Finally, don’t overlook the importance of having a family law attorney involved. A knowledgeable professional, such as myself, can help you:
- Understand your obligations and rights under Pennsylvania law.
- Negotiate fair and balanced terms that work for both parties.
- Ensure that the agreement is legally sound.
Final Thoughts
Ultimately, a postnuptial agreement is not something to be feared. It is simply a tool for protecting your assets, so if divorcing, both parties come out of it whole and without losing what’s important to them.
If you’re unsure whether a postnuptial agreement is right for you, don’t hesitate to consult with an experienced family lawyer in Bucks County, like myself. I can explain your options and help you decide if this legal safeguard suits your situation.
Considering a postnuptial agreement in Bucks County or Philadelphia? Safe yourself from an inflated bill by working with an affordable family lawyer who offers transparent pricing. As a no-retainer lawyer with a flat fee, I offer straightforward service that gets the job done without putting you under financial strain.
Call (215) 750-9202 to learn more.
