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Skipped the prenup? You can still protect yourself

The idea of signing a prenuptial agreement may never have crossed your mind. Perhaps you and your spouse even joked about what you might put in your contract and dismissed any serious thought of such an agreement as something reserved for celebrities and heirs of great fortunes.

You may never have expected your life to take the changes it has, and now the thought of a prenuptial agreement does not sound so silly. In fact, you may be regretting that you did not take the idea more seriously when you had the chance. Fortunately, you have another option. If you are already married and believe the protection of a marital agreement may benefit you, you may want to learn more about postnuptial agreements.

Common reasons for post-marital contracts

A postnuptial agreement is similar to a prenuptial contract except that you create and sign it after you are already married. Whether you never considered having such an agreement or you simply ran out of time before the wedding, you may find that a postnup can be a flexible and beneficial document in the following situations:

  • You have substantially more assets now than you did when you married, and you want to resolve the division of your assets now instead of amid the turmoil of a potential divorce.
  • You and your spouse now own joint assets, such as a home or investment property, and you want to protect your individual interests in the property.
  • You have children from a previous relationship, and you want to ensure they obtain their rightful share of any inheritance you may leave behind.
  • You have a retirement fund that you want to protect because you understand how a potential divorce may deplete these important savings.

Perhaps the most common reason why many Oregon couples seek a postnuptial agreement is that their marriage is showing signs of strain. You and your spouse may be on shaky ground but not quite ready to seek a divorce. However, if splitting up is a possibility, you may wish to learn how a postnuptial agreement can offer you the protection you need to avoid the devastating financial setback many couples experience after divorce.

Your postnuptial agreement can be an act of love because you can make these difficult decisions while you still have positive feelings for each other instead of later when there may be bitter emotions to navigate. You can use your postnuptial document to protect yourselves and each other while facing the reality that not every married couple lives happily ever after.

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