Many people have heard of prenuptial agreements but may be less familiar with the idea of postnuptial agreements. Both are used as tools to define the marital assets of each spouse in the event of a divorce. Postnuptial agreements, however, are drafted after a marriage instead of before like a prenuptial agreement. According to a recent survey, postnuptial agreements are becoming more popular.
The American Academy of Matrimonial Lawyers (AAML) found that over half of family law attorneys have seen a rise in postnuptial agreements over the past three years. In particular wives seem to be requesting such agreements more frequently, with over a third of lawyers polled noting a rise in women seeking postnuptial agreements. The survey showed, however, that men still seem to be the party more likely to initiate a request for a postnuptial agreement.
“It is interesting to note the increase in wives requesting postnups, because often one of the most common motivators for these agreements is a dramatic change in the financial status of one or both partners during the marriage,” explained the president of the AAML. He also explained that postnuptial agreements may help spouses deal with conflicts about assets which may threaten a marriage.
Similar to prenuptial agreements, in order for postnuptial agreements to be valid and enforceable they must be drafted to meet specific legal standards. If you are considering a postnuptial agreement an attorney can provide advice and guidance about the options available to achieve your desired goals.
Source: AAML, “Postnuptial Agreements on the Rise Says Survey of Nation’s Top Divorce Lawyers,” September 10, 2012
See the original article here:
Increase in couples seeking postnuptial agreements