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Could you benefit from a postnuptial agreement?

Despite all the time and effort that couples put into planning their weddings, it is not uncommon to look back and realize that they missed a few important details. In hindsight, maybe a couple might even think they would have done things differently. Skipping out on a prenuptial agreement is one thing that some Kentucky couples feel regret over. Fortunately, a postnuptial agreement offers the protections as a prenup and can be signed after the wedding. Here are a couple of reasons one might consider getting a postnup.

Clarify accumulating assets

Married couples tend to accumulate quite a few marital assets over the years on top of what they bring into the marriage separately. So how can one tell who actually owns what? A postnuptial agreement can clearly state which assets are marital and which are to remain separate property regardless of how they are used during the marriage. Assets that commonly show up in pre and postnups include:

  • Bank accounts
  • Savings accounts
  • Retirement funds
  • Investments
  • Real estate
  • Businesses

Minimize future uncertainty

What happens if a couple gets a divorce? This is a question that many people have asked themselves but not had a good answer to. A postnuptial agreement eliminates that uncertainty by addressing matters such as property division, inheritances and even debt division. Having an agreement in place can also help prevent frustration, disagreements and even vindictive behavior during a divorce.

Getting a pre or postnuptial agreement is not an indication that a couple is on the path toward divorce. Indeed, those who are open to these types of agreements may show a greater predilection toward discussing and working through difficult topics, which is important for making a marriage work. It is still important to make sure that any type of agreement is enforceable though, which is why it is often worthwhile to discuss the details of a postnup with an attorney who is experienced in Kentucky family law.