You’re familiar with prenuptial agreements. But what if you don’t have one and your circumstances change? A postnuptial agreement may be in order. Here are signs you might need one.
A SIGNIFICANT GAIN IN WEALTH
Financial changes after marriage can affect a relationship. A postnuptial agreement clarifies how to manage increased family wealth and ensures protection if you divorce.
ONE OF YOU OWNS A BUSINESS
Business ownership complicates the division of assets in divorce. A post-nuptial agreement specifies what happens to the business, making each party’s roles, contributions, and entitlements clear.
YOU’VE LEFT THE WORKFORCE
If you’ve stepped back from your career or taken on a supporting role for your spouse, your financial dependence on them may increase. Use a postnuptial agreement to outline expectations and protections for both partners, so that if things don’t work out, neither is left in a precarious financial situation.
A LARGE INHERITANCE
If you’ve recently received a sizable inheritance, you might want to protect those assets from being classified as marital property. A postnuptial agreement can clarify that inherited assets remain yours alone, safeguarding your financial legacy.
A postnuptial agreement may not seem romantic, but it clarifies your financial future and offers peace of mind. Requirements vary by state, so always consult an experienced legal advisor.