Contracts between spouses can be mutually beneficial. Many people start their marriages with prenuptial agreements already in place. They establish clear expectations for the marriage and also outline terms for possible divorce proceedings.
Marital contracts have become much more socially acceptable in recent years, with more people agreeing that they are beneficial and fewer people judging those who sign these agreements. Unfortunately, many couples that may have benefited from a prenuptial agreement married without a contract in place. They can address that oversight by negotiating a postnuptial agreement.
When is a postnuptial agreement potentially a beneficial option for married couples?
When divorce is on the horizon
Some spouses wait to file for divorce at a strategic point. They may have already accepted the reality that the marriage is nearly over. In scenarios where people simply want to wait until their children finish college or the household reaches other milestones before divorcing, negotiating a postnuptial agreement can be an excellent choice. Spouses can negotiate clear terms for their future divorce. They can prevent the process from becoming acrimonious and adversarial. They can also establish expectations for the time in the interim before the filing, which can help keep the household as calm and peaceful as possible.
When misconduct damages the relationship
There are many types of marital misconduct that may result in one spouse seriously considering divorce. Adultery, lies about finances, substance abuse, gambling and a host of other problem behaviors can seriously damage the marital relationship. People feel the need to leave because of dishonesty and because of how the actions of a spouse expose them to risk. Negotiating a postnuptial agreement can be a way to incentivize better behavior and to protect spouses providing one more chance to address misconduct before they file for divorce.
When the marital estate changes
Perhaps one spouse has taken on high levels of debt due to their secret shopping habit. Maybe there is an inheritance that needs to pass through probate court but could drastically change the household’s finances. A postnuptial agreement can be a way to establish that certain debts are the responsibility of one spouse or that certain property is separate property. People can protect inherited resources or businesses that they started by drafting a postnuptial agreement as their financial circumstances start to shift.
A thorough postnuptial agreement could help people avoid divorce or could make divorce less stressful for the entire household. Discussing the possibility of a marital contract with a skilled legal team can help people overcome challenging points in their marriages or divorce with limited conflict.