Postnuptial Agreement Explained

From tv shows to real life, everyone has heard of a couple getting a prenuptial agreement. But have you ever heard of a postnuptial agreement? In simple terms, it is a legal agreement between a married couple. The video above provides a detailed outline of how useful they can be to couples facing a divorce as shown in the video’s scenario of a couple divorcing because of infidelity.

Postnuptial agreements are used to speed up the divorce process or define terms that differ from legal norms. These agreements can take the leg work out of divorcing by outlining the division of a couple’s assets beforehand.

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Depending on your state’s rules, assets can either be divided two ways: either the court can determine how they are divided, or they are divided equally among both parties. And they can cover a variety of financial topics as discussed in the video.

Another plus is that you do not need a lawyer to prepare one except if parties are hostile or various assets or liabilities are involved in the divorce. If you do create your own postnuptial agreement, remember to factor in any future complications. The video also provides additional resources.

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