PLEASE NOTE: Johnson, Johnson & Nolan will remain open and available to serve you during the COVID-19 crisis. We are offering our clients the ability to meet with us in person, via Telephone or Video Conference. Please call our office to discuss your options.

Five Generations Of Legal Excellence - One Client At A Time
Divorce
Family Law
Estate Planning
Probate And Estate
Administration
Business Law

Resolving divorce issues with a postnuptial agreement

| Sep 29, 2014 | Family Law |

Just as prenuptial agreements used to be viewed with a certain degree of skepticism and disdain by many people across the state of Illinois and beyond, postnuptial agreements were once scrutinized for their legal validity. Now, however, married couples are increasingly turning to postnuptial agreements to resolve many marriage and divorce issues before they ever arise.

Postnuptial agreements are as effective as prenups at accounting for a number of financial issues that occur during divorce proceedings since they impose stipulations relating to matters like the division of property. And while they are similar to prenups in several ways, postnuptial contracts are also very different. For one thing, a married couple can develop a postnup that mandates various functions within their marriage, such as daily chores and familial obligations. Similarly, a postnup can impose specific terms on a marriage that can be enforced in the event that the marriage ends. For instance, a couple dealing with infidelity may develop a postnup that awards a significant share of assets to the cheating victim if such transgressions result in divorce.

Another interesting aspect of postnuptial agreements is the fact that they can alter legal rights typically guaranteed to married couples. A prenup, for example, cannot typically prohibit a person from being entitled to his or her spouse’s estate, but a postnup can modify the terms of inheritance. Legal experts note that postnuptial agreement can be helpful in resolving both divorce and marriage disputes. Anyone interested in learning more about postnuptial agreement, or other topics relating to property division, can consult with an experienced attorney today.

Source: Pittsburgh Post-Gazette, “Postnuptial agreements gaining traction with couples,” Tim Grant, Sep. 9, 2014

Categories