Postnuptial agreements provide financial protection

| Dec 28, 2020 | Property Division |

Virtually no one goes into marriage expecting to get divorced, but the reality is that this happens to Minnesota couples all the time. It makes sense to protect one’s self regardless of what the outcome might be. For some soon-to-be married couples, this means addressing things like property division in a prenuptial agreement. Couples who have already said “I do” have options too, namely with postnuptial agreements. Postnups afford many of the same protections as prenups, with the main difference being that people sign them after getting married.

Married couples might have different motivations for creating a postnup, though. For example, a postnuptial agreement can be an invaluable tool for a couple who is seeking reconciliation after something like infidelity or a gambling addiction. Since a postnup addresses how the couple would navigate divorce, it might give both parties the confidence to pursue reconciliation knowing that the difficult details of divorce are already ironed out.

Postnups are not just for when things are bad, though. A couple who needs to make changes to their prenuptial agreement can do so with a postnup. Finances are a big reason that people need to make changes, especially if one spouse was the breadwinner at the time of marriage, but now the other earns more.

Some people perceive pre- and postnuptial agreements as an indication that couples have no faith in their marriages. This is simply not true. Indeed, taking the time to discuss finances, marital expectations and other difficult topics could even indicate a serious sense of commitment from both parties. Ensuring that these agreements are enforceable is not always easy though, so it may be helpful to speak with an attorney who experienced with Minnesota family law.