Nuptial Agrrements
POST-NUPTIAL AGREEMENTS
A post-nuptial agreement is an agreement entered into by spouses after marriage has occurred. This type of agreement may be used to protect a family business or an inheritance. A post-nuptial agreement may also be used to define property rights when the spouses are not sure if a divorce is imminent but where they wish to define certain property rights.
It is best to have representation to properly prepare the post-nuptial agreement to be sure that it meets the elements of a contract and that there is full disclosure by both spouses.
PRENUPTIAL AGREEMENTS
A pre-nuptial agreement is an agreement entered into by both spouses prior to marriage and is usually used to protect assets and appreciation from assets that could become part of a marital estate if the marriage fails at some point.
These agreements are often used where there is family business to protect or where a first marriage ended and one spouse has assets that he or she feels must be protected. As with a post-nuptial agreement, disclosure and proper drafting are very important to this process. This is particularly so as the pre-nuptial agreement might not be read for years after is signed.