Understanding postnuptial agreements

On Behalf of | Jan 10, 2020 | Divorce

Prenuptial agreements are well-known ways for those getting married to protect their assets in the possible event of a divorce further down the line. Prenuptial agreements can cause controversy and can be very sensitive matters for couples because they must acknowledge that their relationship may break down in the future.

If you are in a position where you are considering divorce but you do not have a prenuptial agreement in place, you may want to consider putting together a postnuptial agreement. This can have many benefits and could lower the costs as well as drastically simplify the divorce process.

How does a postnuptial agreement work?

A postnuptial agreement works in a very similar way to a prenuptial agreement, but, as the name suggests, it takes place after the wedding rather than before the marriage. It is essentially an agreement between spouses regarding how marital assets should be split at divorce.

What are the benefits of a postnuptial agreement?

First, postnuptial agreements can be created at any time in a marriage. Perhaps you are going through a difficult time in your marriage and see divorce as a possibility. While you may not be ready to file for a divorce, you can put a postnuptial agreement in place to prepare for the possibility. Postnuptial agreements can also save time and money since it streamlines some of the most contentious aspects of divorce. This will undoubtedly make the entire ordeal less stressful.

If you are considering the prospect of divorce in Oregon, you should conduct thorough research and consider whether a postnuptial agreement could be the right choice for you.