A postnuptial agreement is essentially the same as a prenuptial agreement other than the fact that it happens after you take your vows. Postnuptial agreements are growing in popularity, but many people are confused about why they would be.
To many, the idea of a postnuptial agreement doesn’t make sense. If you didn’t want to have a prenuptial agreement, then why would you want one after you get married? The simple answer is because you decide that you should have a contract for your marriage, so you and your spouse both know what to expect and what is expected of you.
What changes may spur the need for a postnuptial agreement?
There are a few changes in your life that might make you want a postnuptial agreement. Some may include:
- Wanting to stay at home, or having a spouse who wants to stay at home, to raise children
- Having a major change in income
- Seeing success with your personal or family business
- Protecting your loved ones due to a second marriage
- To end disagreements you’re having in your daily life, such as arguments about who pays for certain financial obligations or how to divide assets if you later divorce
Not everyone is comfortable with the idea of a prenuptial agreement, because it may seem like they don’t trust their spouse. A postnuptial agreement also helps relieve that issue by waiting until after the marriage to address newly combined finances or other topics.
How can you talk to your spouse about a postnuptial agreement?
It may be beneficial to talk to your spouse about a postnuptial agreement if you’re concerned about any financial aspect of your marriage. Bring it up when you’re both in a good mood or when you’re already discussing finances or changes in your relationship. It’s a good idea to discuss it when you’re both prepared to do so, so if you’re considering one, ask your spouse their opinion before delving into the details.
You may also consider heading to an attorney or financial advisor’s office and having them bring up the topic, so you won’t be the one starting that conversation. Doing that could take some of the pressure off.