Making a prenup may be the first thing many people should do just before they marry. However, not everyone realizes that they can make a prenup, and some people may be pushed into forgoing one by their family or fiance.
So what can you do if you missed your chance to write a prenup? What if you realize you should have made a prenup when you could? Now, you feel exposed and vulnerable if something should go wrong with your marriage.
You shouldn’t have to worry because you never wrote a prenup. You have another alternative: A post-nuptial agreement.
Post-nups can give married couples security
If you didn’t get the chance to write a prenuptial agreement before you were married, then you may be able to write a postnuptial agreement later.
Essentially, a postnup is just like a prenup, except it’s created after a couple has married. A postnup would protect your assets if there is a change in your marital status later.
This legal document isn’t without differences, however. In some ways, creating a postnup can be more beneficial than a prenup. You may realize a new dynamic in your relationship after you are married. This can give you an insight into how your postnup should be designed.
You may find your spouse is looking to open a business. You or your spouse may become financially dependent on the other. Or you wish to make estate plans that would benefit children from another parent in the event of your death. These are all circumstances that can make a person consider adding a postnup to their marriage. (Keep in mind that if you already have a prenup, you can turn it into a postnuptial agreement through renegotiation and revisions.)
If you’re still unsure if a postnuptial agreement is right for you, then you may want to know your options when looking toward the future of your marriage.