One of the most challenging and potentially contentious aspects of divorce is the splitting of shared assets. For this reason, many married couples in Missouri and elsewhere have chosen to create postnuptial agreements to protect their assets in the event that they get divorced. Here is a look at what a postnuptial agreement is and the benefits it offers.
Postnuptial agreements are essentially prenuptial agreements that are signed after people have gotten married. In other words, they are contracts that two people form to determine how they would divide their assets if they were to get divorced in the future. A postnuptial agreement might make sense in a number of scenarios — for example, if two people regret not getting a prenuptial agreement before marrying and would like to finally create such a contract.
This type of agreement may also be wise to create if one spouse happens to be very irresponsible financially. For instance, one person may be prone to racking up debt on credit cards or gambling debts behind the other person’s back. The person who is irresponsible might agree to create a postnuptial agreement in an effort to protect the other person from becoming responsible for the debts.
Navigating the process of creating a postnuptial agreement can unfortunately be daunting. However, an attorney in Missouri can help with this process from start to finish. For instance, the attorney may suggest covering alimony, retirement accounts, child support and even vacation homes in the agreement. The attorney’s main goal is to help his or her client to reach a fair agreement with the other party while most importantly upholding the client’s best interests.