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Like prenuptial agreements, postnuptial agreements can prevent complicated misunderstandings in the event of divorce or the death of you or your spouse. The primary difference in these two documents is when they are created and enacted. While a prenuptial agreement is entered into prior to marriage, the post-nuptial agreement is enacted after the marriage has occurred. While most people associate these types of agreements with the dissolution of a marriage, these legal agreements can actually improve the state of the union. Financial differences are among the primary stressors in a marriage and a top source of disagreement. Many couples actually see improvement in their relationship once the duties and responsibilities of each spouse have been clearly defined. The attorneys at Andalman & Flynn can draft a postnuptial agreement that helps to remove the strain from your marriage caused by fiscal miscommunication.
A postnuptial agreement is primarily a financial planning tool. Common reasons for creating this type of agreement include:
- To protect an inheritance
- To secure the disposition of personal wealth or assets
- Protection from a spouse’s personal debts
- To make allowance for finances intended for children from prior relationships
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