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What is the purpose of a postnuptial agreement?

On Behalf of | Jun 23, 2021 | Divorce

You perhaps already know what an Alabama prenuptial agreement does. It protects the person insisting on having it from many of the financial ramifications of a divorce. However, does it make any sense to file a postnuptial agreement after you already said, “I do”? In fact, it does.

A postnup allows for a clean break after a long marriage

The number of divorces involving older folks is rising. Media accounts have started to call it a gray divorce. Frequently, it involves a married couple who stayed together for the sake of the kids.

However, the youngsters are out of the house and have established themselves, and it is now time for mom and dad to think of their relationship. Typically, these long-term marriages do not end with hostilities. Both you and your spouse can save money by spelling out in a postnuptial agreement who walks away with what.

The postnuptial survives your death and protects an inheritance

Of course, the agreement doesn’t have to have anything to do with plans for a divorce. Rather, it can settle potentially sticky inheritance claims for blended families. As you determine which assets you want to give to your spouse and which should go to the children from a prior relationship, you eliminate potential disagreements after you pass away.

Since a spouse typically takes precedence in an inheritance dispute, it’s essential that you make this decision now. It makes sure your kids get what you want them to have without spending a lot of money and time in court. If you’re unsure that your situation qualifies for a postnuptial agreement, it might help to talk to a family law attorney about your options.