Many engaged couples decide to protect their interests by signing a prenuptial agreement. However, there are also many couples who do not sign an agreement for a variety of reasons. Perhaps you were too busy wedding planning to think about how an agreement might help. You might have had the impression that prenuptial agreements were unromantic, anticipated a future divorce, or were only for very wealthy people. In any event, you might think that you missed this opportunity to protect yourself.
The good news for married couples is that it is not too late to sign an agreement regarding what would happen in the event of a divorce or the death of one spouse. There are different reasons why spouses decide to sign this type of agreement, though whatever your reason might be, it is critical to ensure your agreement is enforceable. Discuss your options with an Aurora postnuptial agreement attorney today.
Some spouses who did not sign a prenuptial agreement might realize that having an agreement would be wise for different reasons. Only some reasons why you might consider drafting and signing an agreement with your spouse are below.
There are many ways that an agreement can help you protect the property you get in the event of a divorce. For example, if you receive a large inheritance during your marriage, it is all too easy to commingle those funds or use them for the benefit of your family, which can cause your inheritance to transition from separate to marital property. An agreement can state that you will retain your remaining inheritance funds after a divorce, regardless of how you choose to spend that money during the marriage.
In addition, if your spouse suddenly starts spending recklessly or engaging in other types of irresponsible behavior, an agreement can ensure that you are entitled to a certain amount of your assets upon a divorce.
If you decide to stay home with your children and forego career advancement for a while, it can be concerning how you would support yourself if you got divorced. A postnuptial agreement can entitle you to certain assets, property, or spousal support, which can help you have confidence in your decision to stop working.
If you pass away, your spouse will automatically receive a large percentage of your estate. However, what if you have children from a previous marriage, and you want them to receive a larger share of your property? You can use a postnuptial agreement to set the terms of spousal inheritance in the event one spouse passes away.
At the CNL Law Firm, PLLC, we help clients determine whether they should have a postnuptial agreement, and we ensure that each contract we draft is fully enforceable. Call (720) 370-2171 or contact us online to discuss whether a marital contract might be right in your situation.