Why would you sign a postnuptial agreement?

Mar 6, 2020 | Family Law

You got married to your spouse without a prenuptial agreement in place. Why in the world would you want to sign a postnuptial agreement now?

As it turns out, there could be many good reasons for you and your spouse to sign a postnup. Let’s examine a few of them.

Your spouse is irresponsible with money

After you marry, you discover that your spouse is a profligate spender who endangers your family’s security by going on shopping binges, playing the ponies or otherwise diminishing marital funds. A postnup could dictate the terms of a divorce settlement should the financially astute spouse decide to opt-out.

You want to financially protect children from a former union

State inheritance laws may not be favorable to your children from an earlier marriage. Stating in a postnup who is to get what can clarify your intentions.

Infidelity has occurred

While there is no piece of paper that is sufficient to keep a wandering spouse in their own backyard, a well-crafted postnup detailing how the marital assets will be split favorably on behalf of the nonstraying spouse in some cases may be incentive enough to deter future infidelity.

Should you sign that postnuptial agreement?

No spouse should ever sign any pre- or postnuptial agreement without a thorough review of the document by their own legal counsel. In fact, doing so without legal advice is often enough to nullify the agreement entirely. If you are asked to sign a postnup or want the one you drafted to stand up in court, insist that both parties seek legal guidance prior to signing.