How do I know if I should get a postnuptial agreement?

On Behalf of | Oct 8, 2019 | Family Law

Many people in Colorado marry expecting to stay in wedded bliss through their golden years. You took that ‘til death do you part seriously, but now start to wonder if maybe you should have had a prenuptial agreement drawn up. A postnuptial agreement can help you and your spouse separate assets usually in case you divorce or separate. 

There are three different types of postnuptial agreements according to The agreement can provide a road map in case of separation, helps provide spousal support and divide assets in the event of divorce or the agreement can waive spousal rights if you die. The agreement lays out the separation of assets without the emotion involved during grief either due to death or separation. 

A postnuptial agreement may be the right choice for you if you have recently received a large inheritance or brought substantial property into the marriage. If you won the lottery and now have millions of dollars, a postnuptial agreement may be a logical next step. You may decide to enter a postnuptial agreement to ensure your spouse has the financial support they need if you separate because they stayed home with the kids. If this is not your first marriage, a postnuptial agreement can ensure any children from the previous marriage receive their inheritance upon your death. 

The marriage rate across the US still hovers around 50% for first marriages. Even if you do not plan to separate, a postnuptial agreement may make sense for you. This information is intended only for educational purposes and should not be used in place of legal advice.