What is the Purpose of a Post Nuptial Agreement?
Like a prenuptial agreement, post nuptial agreements outline how a married couple’s marital and separate property will be divided if the marriage ends in divorce, separation, or death. However, post nuptial agreements can serve other purposes, such as detail the terms of child custody, child support, and spousal support, so there is no discrepancy or confusion in the future if these issues arise during the divorce process. Post nuptial agreements are also drafted when a couple’s economic circumstances change unexpectedly. When changes affecting a couple’s financial situation occur, one spouse may wish to protect himself/herself in the future. For example, if one spouse suddenly falls into mounting debt, the other spouse may wish to draft a post nuptial agreement that states he/she is not responsible for any debt accrued by the other spouse. On the other hand, if one spouse opens a business, he/she may wish to file a post nuptial agreement to ensure the business and all its assets and v
