Kennedy Law Associates

How some couples benefit from postnuptial agreements

Postnuptial agreements are becoming more popular among North Carolina spouses who want to protect their assets in case of a divorce. This legally binding document is similar to a prenuptial agreement, but the main difference is that it's signed during the marriage.

Signing a postnuptial agreement does not necessarily raise red flags or indicate that a marriage is doomed to failure. Some spouses decide to sign a postnup to reset their finances and add clarity to marital assets. For example, these documents have helped some partners with differences in opinion on how money should be spent. If one spouse is better with money than the other, a postnup can help the couple establish new money routines. This document could also be beneficial in a situation where one partner is expecting a large inheritance.

A legally binding postnuptial agreement could be especially helpful if a couple owns a business that has grown to a significant size. When the couple starts to talk about how the business would be handled in the event of a divorce, it's time for full disclosure. They can discuss issues with the business -- everything from accumulated debts to profitability. Of course, it's also necessary to decide how assets would be divided and how the business would eventually be passed on.

When developing a postnuptial agreement, the couple should consider working with professionals, like a certified financial planner and an accountant. Also, each partner may want to speak with an attorney. Each lawyer could look out for their client's best interests as this document is being prepared. Furthermore, legal counsel can answer questions regarding divorce, child support, alimony and property division.

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