We've written about pre-nuptial and cohabitation agreements, but do you know that many couples are now opting to draw up post-nuptial agreements? A post-nuptial agreement is a legal agreement between a couple that is made after the marriage has already taken place. Couples chose to sign a post-nup for a wide variety of reasons. One common reason that couples choose post-nuptial agreements because one partner has chosen to be a stay at home parent. If the couple decides that one partner will put his or her career on hold in order to stay at home with the couple's children, they may also decide to place the economic protection of a post-nuptial agreement in place. Parents who chose to stay home with their children often not only miss out on their peak earning years but lose time ordinarily spent climbing the career ladder.
If you or your partner has decided to become a stay at home parent, it's easy to protect yourself financially! Your first step should be to consult an attorney who specializes in Family Law. You should explain the specifics of your family's situation. Your attorney can then draft your family's custom agreement. Families can choose whatever financial arrangement is right for them (within the parameters of Family Law) and map out how their assets and the future of your finances in the event of divorce.
Post-nupital agreements have also become popular options for couples who have experienced infidelity. Depending on personal circumstances, couples can draw up anything from a "infidelity clause" in their post-nupital agreement to a shift of assets into the betrayed spouse's name for his or her financial security.
Post-nupital agreements can protect the entire family's financial future and ease the divorce process if it ever occurred. If you are married and in financially vulnerable position as a result, I strongly recommend you look into drafting a post-nupital agreement.
-Kevin P. McKernan
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