At one time, marital agreements were only for rich and/or famous people -- or so most people believed. Over time, other people began to understand that these agreements offer even ordinary citizens many valuable benefits. It is safe to assume that most New York residents understand prenuptial agreements, but postnuptial agreements may require some explanation.
A postnup is very similar to a prenup. The main difference between the two is that postnups are drawn up after a couple gets married. As with a prenup, it is wise to have a family law attorney assist with drafting this document. This helps ensure that your agreement does not violate any laws or treat one party unfairly. Postnups can offer couples many valuable benefits, including:
Property division: Postnups can detail how a couple's property will be distributed if a divorce occurs.
Previous children: If one or both spouses already has children when they get married, a postnup can help ensure these children receive a share of the family inheritance.
Debt division: A well-drafted postnup can help ensure that one spouse does not share responsibility for the other spouse's separate debt upon divorce.
Streamlines divorce: Even when a divorce is imminent, a postnup can help by letting the court know how a couple wishes to address property division and other financial matters. However, family law courts may alter or even disregard the provisions a postnup contains.
Most couples do not want to think about the possibility of divorce when they are getting married or have just married. Postnups provide the same protections as prenups. However, gave give couples time to experience married life for a time before they consider what kind of things they want to protect should the marriage end.