What if you`re already married? Are you unlucky? No, definitely not! You and your spouse can enter into a post-uptial agreement. A post-nup is an effective way to document intentions for income and wealth during marriage and in the event of future divorce. Postnups are usually used early in marriage when the couple has not had time to complete a prenup before marriage, or five, ten years or more in a marriage, if the couple is aware of the problems that threaten their relationship and want to gain clarity about conflict zones. This is evident from the divorce proceedings of Matt Lauer and Annette Roque. Post-nuptial agreements generally evoke one or more of the following concerns: Many critics argue that negotiating a marriage agreement before your marriage is wildly unromantic, and the uncomfortable process can cause a marriage to fail before it begins. However, Prenups supporters point out that in the event of a divorce, these agreements can save a lot of trouble, not to mention money, especially if it`s not their first marriage. When a couple decides to split up, prenups can avoid long-term and overly costly legal battles. As everything is already stipulated in the agreement, everyone knows exactly who gets what and there is no room for arguments. One thing that cannot make a marital agreement, whether it is a post-nup or a pre-nup, is to stop child custody or to decide on custody of the children after the divorce. “You can`t evade your responsibilities to your children,” says Meghan Freed, the family lawyer. Support and custody are always to be decided until a court. However, a couple may use a post-Nup to supplement child care, for example by agreeing to have a spouse responsible for a certain amount of the child`s education or other expected costs.
Many people have heard of marital agreements, but they are surprised to learn that there is also another type of similar legal document, a post-uptial agreement called. Before the marriage, if a party does not like, the provisions contained in the proposed marriage arrangement and the couple is not able to reach an agreement, they may simply decide not to marry. With a post-uptial agreement, the couple is already legally bound and the spouses owe themselves a duty of trust. There is a concern that the provisions of a post-uptial agreement were not negotiated because a spouse had little choice but to sign the agreement. The fact that marital agreements are generally less stigmatized is undoubtedly one of the reasons for this situation. A generation ago, it was quite outrageous to ask for a pre-Nup (unless they were richer). But don`t you love your fiancée? Now, especially thanks to people who marry later in life – after having a business, a pension fund, or even a house – pre-nup nuptials are commonplace. Like buying travel insurance, that doesn`t mean you don`t like your vacation. Meanwhile, a handful of states, including Ohio, do not recognize post-marital agreements at all or recognize them only in extremely limited circumstances.
“If they`re in a relationship and a party is asking for a deal after the marriage, it`s a very difficult negotiation,” says King, who recalls a close family member who signed a post-nuption against his strong objections (and the advice of his own lawyer). “She was essentially irritated by the fact that she had her bargaining counterpart 24-7 on her face, which pushed her into this agreement.” What happened? “She and her husband are still married. I don`t think they`re that happy, but I guess it works in that regard, because they were very close to divorce and they stayed together – and they have young children. But it was not an economically equitable agreement. Here`s the reality: if you or your spouse are rich, if you`re expecting a great inheritance, or if you`re entering into your second, third or fourth marriage, divorce or death would not only mean heartache, but could also have serious financial consequences.