Most people understand what prenuptial agreements are, but do you understand postnuptial agreements? Postnuptial agreements occur after you and your spouse marry. The U.S. News describes the postnup as a contract to determine how to split the assets.
The following are signs that you may need to consider a postnup.
You have a rocky marriage
Most couples can identify when a marriage begins to head towards its end. If it feels like your relationship will not hang on much longer, you want to start thinking about a postnup. Sometimes, there is also no room for anyone to take offense to a postnup agreement when there is trouble in a marriage. You both may be imagining how your life could be if you split up.
You have significant assets
When there is a lot of wealth involved in a relationship, it is critical to agree about how you want to divide the wealth. The more wealth involved in a relationship, the more likely the couple will have to deal with a hostile and messy battle over finances. If you can figure out how to divide your wealth in advance, a postnuptial helps.
You underwent a major life change
Some people do not have a prenup because they were in different stages of their lives when they married their spouse. A significant life change could be an inheritance or a job that pays more money than you ever had before now. Whatever the reason, you should start to consider a postnup when your asserts significantly change.
Postnups can protect you from your spouse’s financial troubles or debts.