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Do I Need A Postnuptial Agreement?

PostNupt2

Most people are familiar with the concept of a prenuptial agreement, but may think that if they do not get such an agreement before they are married there are no options left on the table. However, a postnuptial agreement actually offers all the same benefits of a prenuptial agreement and can be obtained after a marriage is legally entered into. This is a great option for couples who may have missed the opportunity to obtain a prenuptial agreement initially, or who did not originally have a need for one. In this article we will provide some insight on when it may be in your best interest to obtain a postnuptial agreement.

Reasons to Get a Postnuptial Agreement

There are many possible reasons to obtain a postnuptial agreement, and ultimately the decision is personal, however, below we have included some of the most common reasons that couples seek to obtain a postnuptial agreement. If you are questioning whether a postnuptial agreement could be right for you it is a good idea to schedule a consultation with an attorney so that you can understand the options available to you.

  • Disparity in wealth. One reason that some partners choose to get a postnuptial agreement is that one spouse has significantly more assets than the other. This can create an imbalance power dynamic in the relationship and create underlying feelings of dependency or insecurity. Creating a postnuptial agreement ensuring that the lesser-earning partner will be cared for in the event of a divorce can allow for stability and security moving forward in the relationship.
  • One partner sacrifices their career for the sake of the home. If both partners initially entered into the relationship with roughly equivalent salaries, they may not have felt the need to get a prenuptial agreement. However, if that changed because one spouse had to stop working in order to care for shared children or support the household, it may warrant the execution of a postnuptial agreement in order to ensure that they will not be left high and dry in the event of a divorce. This can create more security in the relationship.
  • One partner receives a large inheritance. If you or your partner receive a large inheritance, you may want to execute a postnuptial agreement in order to protect it so that the money remains in your family should you get a divorce later on. This is important because in the absence of a postnuptial agreement, inheritance can sometimes be treated as shared marital property, which is subject to equitable distribution in a divorce.
  • You have a business. If you or your spouse own a business, or you own a business together, it is important to have a postnuptial agreement that dictates how the business and its assets should be treated in the event of a divorce. Without such an agreement, a divorce could financially ruin the business, or you could end up losing half of your business to your ex-spouse.

Contact Bubley & Bubley, P.A. Today and Schedule a Consultation

If you are ready to create a postnuptial agreement and protect the assets that matter to you most, contact the experienced Tampa family attorneys at Bubley & Bubley, P.A. today and schedule a consultation.

Source:

investopedia.com/terms/p/postnuptial_agreement.asp

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