Nuptial agreements are contracts that determine the division of assets, properties, and debts in the event the marriage is dissolved at a later point. While prenuptial agreements are commonly used among high-wealth individuals who seek to protect their assets and income from the legal ramifications of a future divorce, other contractual forms—postnuptial agreements—can be implemented after the wedding has occurred.
In a prenuptial agreement, the assets and wealth of both parties are protected prior to marriage. A postnuptial agreement deals with issues that arise after marriage, such as receiving a large inheritance or a business transaction that was pending before the marriage, but was completed after the wedding. Postnuptial agreements are designed to address unforeseen financial issues that may be problematic in the event of a divorce. While the subject matter may be uncomfortable, both pre- and postnuptial agreements help foster communication between a couple and put financial and monetary concerns on the table in an honest and straightforward manner.
About the Author:
As an attorney with Gladstone & Weissman, Jeff Weissman offers counsel on marital and family law.