Although spouses never tie the knot with the end in mind, sometimes divorce is the best course of action. Luckily, for those in high-asset marriages, there is a way spouses can protect themselves in the event of a high asset divorce. According to recent research, more and more spouses in Kansas these days are seeking postnuptial agreements. Here’s what a postnuptial agreement is and how it can protect against divorce.
What are postnuptial agreements?
A postnuptial agreement is basically the same as a prenuptial agreement. However, a postnuptial agreement is signed after a couple has wed, as opposed to a prenup which is signed prior to marriage. Postnuptial agreements are legal contracts signed by two spouses that state how the couple’s assets and/or property will be divided. Although postnuptial agreements can contain clauses that dictate marital conduct, they’re mostly about finances or property.
Benefits of a postnuptial agreement
For many spouses, negotiating and talking about dividing assets or property is just easier after marriage, as opposed to signing a prenup before marriage. However, postnuptial agreements are probably most beneficial when one or both spouses have significant premarital assets and/or children from a prior marriage. Also, since a postnuptial agreement can protect income an individual receives post-marriage, postnups can be useful if one spouse receives a large amount of money, like an inheritance.
In the event of a high-asset divorce, spouses who sign postnuptial agreements can avoid lengthy and expensive divorce battles. Those in Kansas who want to know more about postnuptial agreements or have questions about high-asset divorce could benefit by contacting a legal representative. An experienced family law attorney can provide much-needed guidance while helping individuals protect their assets and personal rights.