Either before or after getting married one or both spouses may wish to enter into an agreement regarding how their property will be divided in the event of a divorce.
When an agreement is entered into prior to marriage it is known as a prenuptial agreement and certain requirements apply with regards to both the disclosures necessary and the timing of the agreement in relation to the date of the marriage. When an agreement is entered into after the marriage it is known as a postnuptial agreement and increased disclosure requirements apply.
Entering into a prenuptial or postnuptial agreement is not necessarily done in contemplation of a future divorce. A prenuptial or postnuptial agreement may simply serve to memorialize the separate property interests of one or both parties so as to limit the need for later litigation. A prenuptial or postnuptial agreement can also serve as a form of insurance against future divorce proceedings by setting forth the parties’ property rights and potentially spousal support rights and obligations.
To learn more about entering into a prenuptial or postnuptial agreement and to schedule a free one hour consultation please Contact The Law Office of Matthew J. Rudy