Prenuptial agreements are the ones that get the most press. We hear about them frequently in
the media, especially when someone famous drafted one before marriage. Now
postnuptial agreements...we don’t hear about them so much, but they’re just as powerful.
Were they an afterthought? Probably, but for good reason. A lot of people
have qualms about drafting prenups because they’re madly in love
and can’t imagine their romance every ending, but sadly, about
50 percent of first marriages end in
divorce and those numbers are even higher for second and subsequent marriages.
‘I Should Have Had a Prenup’
It is NOT unusual for a high-net-worth individual to fall in love and get
married without a prenup, but six months, a year, or five years later,
he or she thinks, “Oh my gosh, I should have gotten a prenup.”
This is when the remorse sets in and their heart starts to sink. “What
will happen to all of my hard-earned money if we divorce?” Talk
about feeling lousy.
Let’s examine the common reasons why people draw up postnuptial agreements
(which are the same as prenups only they’re executed after the marriage):
- The individual is wealthy and they realize they made a big mistake not
getting a prenup.
- The marriage is on shaky ground and the wealthier spouse fears divorce
is on the horizon.
- The individual loses trust in their spouse and decides they’d rather
see their assets go to their children from a previous relationship or
to their favorite charities.
- The individual built a successful business and does not want anything to
happen to it if they get divorced.
- The individual has lost faith in their marriage and out of self-preservation,
they want to protect their assets.
4 Silent Killers of Marriage
If you are seriously contemplating drafting a postnuptial agreement, we
invite you to
contact our firm to meet with a San Diego
family law attorney. We would be happy to answer your questions and help guide you
to the most optimum solution.