When you enter into the union of marriage, seldom do you plan to divorce. Even though we rarely plan for a divorce, even before the vows have been spoken there are measures that should be taken to protect your assets should a divorce be the conclusion.
The prenuptial agreement is a contract that lists assets of each individual prior to the marriage. This allows each person to walk away from the marriage with all of the things he or she brought into the marriage. It’s common for people to know what a prenuptial agreement is, and how it works, but few know anything about a post-nuptial agreement.
The post-nuptial agreement is a contract that is created AFTER the marriage has taken place. Both spouses meet with a lawyer to draft a cordial, agreed upon document. This document is a listing and dividing of assets accumulated DURING the course of the marriage. The post-nuptial agreement is an expedient way to move through divorce proceedings with little to no back and forth over assets. It provides a clean and smooth transition from married with joint property and family financial assets, to single with individual property and personal financial assets.
The post-nuptial agreement is also an ideal method of arranging for spousal support, child custody, child support, and even legal fees. Keep in mind that the post-nuptial agreement is also utilized to plan for the future in the event that one of the spouses dies; each individual in the marriage can do with their assets as they wish even after death.
The post-nuptial agreement is a tricky and often underutilized contract that can carry some serious weight during a divorce, and provide the protection you need to leave with your assets intact after your marriage ends. If you’d like more information on how to file a post nuptial agreement or would like to speak with a divorce lawyer in Chicago who can represent you during your time of legal need, contact the law offices of Corey M. Bandes. Mr. Bandes and his team of skilled legal professionals have years of experience providing clients with iron clad post-nuptial agreements. Call today for your free initial consultation.