Prenuptial and Postnuptial agreements are contracts entered into to address the financial aspects of marriage. The purpose is to protect assets in the unfortunate event of a divorce or death.
A Prenuptial Agreement is a contract entered into by two people prior to marriage. The purpose of this agreement is to establish the respective property and support rights should the couple divorce. The agreement may also protect the inheritance rights of children from a previous marriage. If you have separate property and are getting married, you should consult with an attorney to see if a Prenuptial Agreement is right for you.
A Postnuptial Agreement is a contract entered into after two people marry. It is similar to a prenuptial agreement except it is signed during marriage. The purpose of this agreement is to establish the respective property and support rights should the couple divorce. A Postnuptial is entered into in contemplation of an ongoing, viable marriage. An example of when someone may want to enter into a Postnuptial is if they just received or are about to receive a large inheritance. When starting a business you may also want to consider a Postnuptial Agreement to protect your business and business partners from the unfortunate circumstance of death or divorce.