Whether you are a newlywed or celebrating your 25th anniversary together, it might be time to create a post-nuptial agreement. Post-nuptial agreements are written by spouses after a marriage, in a sense they are very similar to prenuptial agreements. The idea behind a post-nuptial agreement is to settle financial and marital issues that are present. It also dictates how a couple’s assets will be divided if divorce or separation occurs.
A couple common reasons people choose post-nuptial agreements are:
- They have children from a previous marriage and want to ensure they receive some assets
- Someone has been unfaithful and one partner wants to persuade the other to work on the marriage
- They have decided to stop working to spend time caring for their children and want to make sure they will be financially stable
Creating a post-nuptial agreement can help save you money in the long run if you decide to separate or divorce.