When people in Maryland get married, they generally do so with a sense of optimism that it will last for the rest of their lives. Unfortunately, that is not always what happens, and many marriages wind up in divorce proceedings. There is one measure that couples could take before getting a divorce, whether they think it could be in their future or not. A postnuptial agreement may help streamline the divorce process or possibly prevent it altogether, as it gives both spouses a clear look at what their assets may look like once they part ways. Here are several reasons that couples may decide that a postnup is the right choice for them.
Many spouses decide to create a postnuptial agreement after their marriage has weathered a significant and negative event. For example, infidelity or incurring a large amount of debt that one spouse did not agree to take on are often very difficult issues to address. If both parties decide they want to save the relationship, they may feel more secure having a postnuptial agreement that outlines the division of assets should such an event happen again.
Another reason to get a postnup is for any significant change to one or both spouses’ income or expenses. The postnup could also override or change the terms of a prenuptial agreement that is already in existence. In either case, a spouse may have motivation to protect assets in the event of divorce. Similarly, many business owners decide to draft a postnup stating that their spouse will not have a claim to their business if divorce occurs. Doing so may not only help the owner but may make any business partners or co-owners feel more secure in their investment.
Whatever the reasons may be, a postnuptial agreement may be a sensible solution to several financial questions in a marriage. For those here in Maryland interested in the process, an experienced family law attorney may prove to be a valuable guide. Getting a postnup doesn’t mean a marriage will certainly end in divorce, but it can help simplify the matter for those instances where it does.
