Unfortunately, not every marriage in Indiana is successful. For this reason, many individuals decide to file a prenup or postnup to protect themselves against future risks if divorce becomes unavoidable. If you’re confused about prenuptial or postnuptial agreements, read on to learn about the basic differences between these legal documents.
What is a prenuptial agreement?
A prenuptial agreement is a legal contract between two people that’s created before a marriage. It spells out how the couple will handle matters like the division of assets and finances should their marriage end in divorce.
What is a postnuptial agreement?
A postnuptial agreement is often similar to a prenuptial agreement. The key difference of a postnup is that it’s created after a couple has already married. Postnups typically address the same issues of prenups. Some couples opt to go the postnuptial route to avoid conflict with their future spouse by asking for a prenuptial agreement before walking down the aisle.
Do you need a postnup?
Every couple’s situation is unique, and there are many reasons why some people decide to file postnuptial agreements. Common reasons couples choose to sign postnups include:
- To ensure financial security in the case of a divorce
- To protect a spouse who decides to quit working to take care of children
- To clearly spell out each couple’s wishes for handling assets accumulated during the marriage
- To make sure kids from previous marriages inherit specific assets
Who can you turn to for help?
Although these documents are not for everyone, a prenup or a postnup could be quite effective in some circumstances. If you have questions about these contracts, consider speaking to an experienced attorney.