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Marital agreements outlining property division can ease divorce

On Behalf of | Jan 3, 2019 | property division | 0 comments

Though the benefits of signing a prenuptial agreement far outweigh the cons of it, many New York residents are still not prepared to enter into such an emotionally charged conversation right before tying the knot. They also believe that talking about divorce might jinx a marriage, therefore avoiding the important talk about what to do in the event that a marriage ends. However, it is important to know that married couples who forewent a prenuptial agreement can enter into a postnuptial agreement to protect their assets just as thoroughly.

A postnuptial agreement is similar to a prenuptial one, except that couples enter into it after they have gotten married, rather than before. Similar to a prenup, couples disclose all their property to one another, both separate and marital property, before entering into the agreement. While these were previously unenforceable in most states, their popularity and acceptability are both increasing, both legally and culturally.

While many enter into postnuptial agreements to protect inheritances or avoid inheriting a spouse’s debt, one could also be created in order to clearly define what each party wants to do with the separate property each brought into the marriage. Additionally, a postnuptial agreement does not only have to be an option for couples who wish to remain married. Even couples who are about to get divorced may want to enter into a postnuptial agreement in order to streamline the process and avoid disputes down the line. The postnuptial agreement would then be incorporated into the divorce decree and prevail in matters of property division.

Whether one enters into a marital agreement before getting married or after, it should be considered an important document that can facilitate property division in case a couple gets divorced. There are certain legalities that must be fulfilled to ensure such an agreement’s enforceability in court, which is why consulting with an experienced attorney for guidance may be one way for those interested in creating one to proceed.