Pre and Post-Nuptial Agreements Attorney in New York, New York
Postnuptial Agreements
Postnuptial Agreements
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Post-nuptial agreements are used when something has happened within the marriage but the parties either cannot or do not want to terminate the marriage or separate their living arrangements. So what the postnup does is, postnup sort of fits in between a prenuptial agreement which is signed before the date of the marriage and a separation agreement which is when the parties have decided to divorce.
In scenarios where this might be important is, for example, a couple that’s in their mid-50s and one spouse is very, very conservative about how the investment is going to be made and the other one isn’t so conservative and sort of wants to let it all roll. And it’s creating a tremendous strain between the marriage.
What the post-nuptial agreement will do, it will allocate the property so that the spouse who wants to gamble more, shall we say, would be able to do so with his or her own assets. And the spouse who is more conservative will have their own assets legally allocated to them so that there is no longer that dispute between the two of them.
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New York, NY divorce attorney, Ken Jewell talks about the various situations in which a post-nuptial agreement would be used. He explains that post-nuptial agreements are used when something arises within a marriage, but the spouses either cannot or do not wish to end the marriage or separate their living arrangements. A post-nup essentially falls between a prenuptial agreement, which is signed before marriage, and a separation agreement, which is executed when the parties have decided to divorce.
He gives an example of a couple in their mid-50s, where one spouse is very conservative in investment strategy while the other is more willing to take risks. This difference can create significant strain on the marriage. A post-nuptial agreement in this scenario allows each spouse to have their assets legally allocated according to their individual preferences—so the risk-taking spouse can invest more aggressively with their own assets, while the conservative spouse’s assets are protected—thereby resolving the dispute and reducing tension within the marriage.
