We are all familiar with the term “prenup” for its inclusion in every movie, t.v. show, and tabloid story relating to the rich and famous. But have you ever heard of a postnuptial agreement?
Now we know that prenups are not solely for the famous or well-to-do, but are important for every couple that has assets or hopes to garner assets throughout the marriage. Because some couples avoid prenups thinking they are not romantic, we are now also seeing discussion about “postnups” in Arizona and around the country. Let’s dive into the subject to learn more.
Postnup vs Prenup
Quite simply a postnup is a signed agreement between an already married couple to clarify how assets and arrangements will be managed. “Post nuptials” translates to “after the wedding”. The agreement can include any rules or arrangements the couple wishes to codify, but, like prenups, most postnups concern the couple’s finances.
The Prenup is “pre nuptial” or “before the wedding” and is distinctly advantageous because it avoids the pitfalls of a post-nup and manages the issues that can arise with clarity and foresight.
Couples might think it is awkward to discuss finances in the highly romantic period prior to marriage, so delaying until after the marriage can appeal to some couples. But there are significant disadvantages, so if you are in a position to consider a prenup that should be your first choice. Any minor awkwardness is good preparation for the many issues married couples have to navigate. Hiring a qualified and compassionate mediator, like us here at Affordable Mediation, can mitigate most of that discomfort and set your marriage on the right course.
These important issues and choices can be clarified before the marriage with a prenup or after the marriage with a postnup. Here’s why we strongly suggest getting a prenup instead of postponing till after the marriage:
- A Postnup is not inherently legally binding. They are exploitable since they are like any other legal document, if the situation has changed, they are open to reconsideration by the court.
- A Prenup is established law and therefore much more enforceable.
- An ounce of prevention is worth a pound of cure. A Postnup can help a couple that is heading for divorce, but a Prenup can prevent these issues from arising at all.
- To avoid invalidating a Postnup, both partners should have individual legal advice; therefore it will cost more and risks unnecessary argumentation.
A loving and caring couple usually wants each other to feel completely comfortable and safe, so a Prenup can actually build a couple’s trust and commitment. For example, if one or both partner(s) in the couple comes into the engagement with significant assets, they may choose to protect them, either for themselves or their heirs by establishing a clear description of what should happen in the case of marital difficulties. Similarly, one or both partner(s) may need assurance that they will be appropriately cared for if circumstances change. Listening to concerns and caring for how the marriage evolves will ensure a solid start to their nuptials and that is why we heartily endorse the choice of a Prenup.
Still Have Questions About a Post-Nup or a Prenup?
If it will help your marriage, get a Postnup. But if you are not yet married, don’t risk the problems that can occur just to avoid discussing a Prenup. Crafting a Prenup can be a pleasant process when accomplished with the help of a qualified and caring mediator, like us here at Affordable Mediation. We are highly trained in accomplishing your goals in a peaceful and focused way. Reach out to us right away.