How postnuptial agreements can help protect assets
Posted by Reed Kloc of D'Amico & Pettinicchi, LLC on Jul 09, 2013 in Property Division
When two people get married, the last thing on their minds is probably the possibility that they may ultimately get divorced. Connecticut couples may be so busy planning a wedding that they may let the chance to plan for their individual futures slide off the radar.
It is not exactly romantic to consider what will happen during the process of dividing assets in a divorce, which is why many couples make the decision not to address the issue. Couples in this position may have missed the opportunity to put a prenuptial agreement in place, but there may be other options for couples who wish to legally assign certain assets after they are already married.
According to some reports, postnuptial agreements are on the rise across the U.S. With so many marriages ending in divorce and the fact that the Defense of Marriage Act was recently struck down, the reality is that many married couples may want to address -- or readdress -- property rights. There is nothing wrong with wanting to protect your individual assets and establish some legal boundaries in terms of marital property. However, the stigma attached to these types of agreements may be preventing some couples from considering them.
Postnuptial agreements may be appropriate for couples who got married very quickly or have experienced dramatic changes in wealth or circumstances since tying the knot. Some couples may end up working on a postnup if they are experiencing some difficulties in their relationship and want to make sure they address financial concerns before they get to the point of getting divorced.
Whether or not a prenuptial or postnuptial agreement is right for a couple depends on the unique circumstances of each relationship. People who want to discuss their financial futures in terms of a marriage or divorce may want to speak with a family attorney in order to figure out what options are available.
Source: NBC News, "If you ran out of time for a prenup agreement, try a postnup," Kelley Holland, July 5, 2013