Prenuptial & Postnuptial Agreements
Often in anticipation of marriage, a couple may decide to enter into a prenuptial agreement, which addresses how potential marital assets would be divided in the event of a divorce or death. While this can be an extremely emotional subject for most, having a prenuptial agreement can be beneficial as it spares the couple from enduring litigious disputes, should the marriage end in divorce. Prenuptial agreements can be especially advantageous in situations where there is a disparity in income or assets, where one party owns a business or is expecting a hefty inheritance, where one party has significant debt, or where one or both parties have children from prior relationships or marriages.
While having prenuptial agreements can be valuable, not everyone has the time, need or forethought to create a prenuptial agreement prior to getting married; however, that does not always hold true throughout the marriage. In some instances, couples who are already married may have a desire or need to enter into a binding contract with one another, which would address the division of marital assets and future support in the event of a divorce or death. These binding contracts or postnuptial agreements can be helpful in situations where one party suddenly comes into a large sum of money or where one party anticipates incurring a lot of debt and would like to protect the other party from liability.
When dealing with prenuptial and postnuptial agreements, the most important issue is the agreement’s enforceability, which is why consulting an experienced attorney is imperative when negotiating and preparing these agreements. At Foley & MacAdie, P.C., our experienced attorneys will ensure that your rights are fully protected in the event of you want a prenuptial or postnuptial agreement.