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3 reasons to renegotiate your prenup

Many people write prenuptial agreements (also called a prenup) before they’re married. A prenup is a contract that often works to safeguard assets if there is ever a divorce. 

However, prenups capture a moment in time, and you may find that your prenup no longer suits your needs (or goals). In that situation, you can effectively change a prenup through negotiation and the use of a post-nuptial agreement, instead.

Here are 3 good reasons to act:

1. You want your spouse to be a stay-at-home parent

Maybe you and your spouse both had active careers when you married. Now that you have children, you want your spouse to stay home to raise them. Your spouse may be willing to give up their career, but only if they are guaranteed some financial security if you should divorce.

2. Your marriage has endured for quite a while

Some prenuptial agreements have a “sunset” clause or a tiered system, where the provisions expire after a certain amount of time. Maybe you never considered this for yours. Now that you’ve been with your spouse for more than a decade, the old prenup may seem harsh and unfair. A postnup can be used to set things right.

3. One of you has just started a business or formed a partnership

If your prenup didn’t address any business enterprises, that can be a big problem. You may even have a hard time finding willing business partners without a new agreement with your spouse that carves the business out as separate property.

Writing a postnup isn’t always easy. Couples may have a lot of assets to consider before they can go through with writing their contract. If you’re unsure how to proceed with writing a prenup or postnup, then you may wish to seek legal assistance who can walk you through the process and avoid future complications. 

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