Although most people have heard of prenuptial agreements, fewer adults in Massachusetts are familiar with postnuptial agreements. As the names imply, the biggest difference between these two types of marital contracts is when a couple decides to sign them.
Those who have already married cannot create a prenuptial agreement, but they can agree to terms in a postnuptial agreement that could result in many of the same legal protections. The idea of negotiating a contract with one’s spouse puts some people off, but for many couples, the benefits of a postnuptial agreement are hard to ignore.
Protection for specific resources
It is often the acquisition of specific assets that will prompt the creation of a postnuptial agreement. If someone is about to inherit assets from a family member who just died or is about to file paperwork to start a business, postnuptial agreements can provide direction regarding the ownership of specific assets. By establishing specific property as separate assets, couples can keep them out of the marital estate and avoid allegations of commingling that would put that property at risk.
Clarity about the future
When a relationship is in an uncertain place, spouses may worry about whether they can rebuild or if divorce is inevitable for their household. Regardless of whether the spouses decide to divorce or not, having an agreement in place that makes it clear exactly how they would handle property division and other matters in the divorce will reduce tension between the spouses and help keep the divorce process quicker and more affordable should either spouse ultimately decide to file.
The possibility of an improved dynamic between spouses
Although some people think that discussing the possibility of divorce would harm a relationship, negotiating a postnuptial agreement actually tends to have a strengthening effect on marital relationships. Those who understand what would happen if they would divorce and who have talked about their priorities and expectations at length with their spouse will be in the best possible position to work on their relationship. Many people report feeling more committed to their marriages and happier with their spouse’s efforts after negotiating a marital contract.
Rather than shying away from having difficult discussions with a spouse, it may actually be better to openly communicate about marital challenges and concerns. Putting together a postnuptial agreement might be a way for people to protect their interests and possibly even preserve their marriages.
