Postnuptial Agreements

Even if you and your spouse are already married, you can still create an agreement—called a postnuptial agreement—that will accomplish the same things as a prenuptial agreement. Postnuptial agreements are essentially the same as prenuptial agreements: they override state laws for dividing assets upon divorce or death. You can decide to create a postnup at any point after marrying. You might create a postnuptial agreement if:

You want to sort out issues that cause friction: Married couples sometimes find that certain issues cause continuous friction during their marriage. A postnuptial agreement can help them sort out these issues formally and eliminate daily hostility.
You and/or your spouse experiences a major change in financial status: If one spouse received a large inheritance or changed careers and is now earning significantly more, he or she might want to create a postnuptial agreement for the same reasons that a person in this situation might want a prenuptial agreement.
You and/or your spouse starts a new business: If one spouse opens a new business at any point during the marriage, it can be a smart idea to get a postnup to lay out exactly what should happen to the business in case of divorce or death.

Postnups are often held to a higher standard in court than prenuptial agreements, since it’s commonly believed that a person who is already married has less power when negotiating the agreement—making it more likely that one of the spouses was pressured into signing.

Both prenuptial and postnuptial agreements can be changed if both spouses are in agreement. It’s a good idea to revisit a prenup or postnup every few years to keep it up to date and amend for such things as a change in financial status.

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