Every couple goes through an adjustment phase when they merge their lives. However, there are things that you can do to set some rules and protect your individual assets, which can be crucial if a marriage ends whether by divorce or death.
You may already be familiar with prenuptial agreements, but postnuptial agreements can also prove to be quite valuable during a transitional time. It can be helpful to know what these documents are and what makes them different from one another.
Both prenuptial and postnuptial agreements are legal documents signed by two people who are married or are about to be married. They often address factors like spousal support, asset division, future income and retirement benefits and are tools that couples use to identify asset ownership and marital ground rules. But they are not the same thing.
The biggest difference between prenuptial agreements and postnuptial agreements is the date of creation. A prenuptial agreement is signed before two people are married and a postnuptial agreement is signed after marriage.
Some consider prenuptial agreements to be more enforceable than postnuptial agreements, considering the fact that they are drawn up when two people are still independent and assets have not legally merged. This can make it easier to avoid gray areas. To learn more contact Anene Farrey & Associates!