Love is a beautiful thing but it is also said that it is blind. When you are in love, it is hard to imagine that one day you will think about separating from your partner. But the hard truth is that things change and you will never know what will drive you to think about divorcing the love of your life. In fact, divorce is so common these days that one in every two marriages usually ends up in a divorce. Most divorce cases are not fun either; most of them turn into ugly situations very quick. Partners battle each out other for business assets, custody of children, and division of property. But did you know you can avoid all that by entering into a postnuptial agreement with your partner?
What Is A Postnuptial Agreement?
A postnuptial agreement is a written contract that a couple signs after marriage or after entering into a civil union type of partnership. Basically, the couple drafts the agreement with the help of their attorneys. The contract shows how the couples' assets and financial affairs are to be divided should the couple decide to divorce. You can also add other things that are normally problematic in the course of a divorce such as child support.
Why Should You Agree To A Postnuptial Agreement?
As said before, a postnuptial agreement can save you a lot of trouble when you are going through a divorce. Some of the issues that arise during a divorce include property division, the partner that is responsible for marital debts such as mortgages, and the partner that is supposed top take care of alimony. You can rest assured that these issues won't affect you during a divorce by entering into a postnuptial agreement with your partner.
And if you are the person with the highest net worth, you get what is your fully. This is very different from a trial in court which may try to divide the wealth equally. By agreeing to a postnup, you also avoid the extended litigations in court that can become extremely expensive. Another bonus is that a postnup still stands when you want to remarry. So if you have children and you had intended for them to get a certain share of your property in your postnuptial contract, entering into another marriage will not prevent your children from getting their share. FOr more information, talk to a lawyer.