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Pre-nuptial and Post-nuptial Agreements – The Importance of being on the same page

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Speaking plainly, getting married is quite a hefty process. Through the thick of it all (planning the reception, ceremony, catering, honeymoon, etc.), there is one overarching factor that should be addressed when making such a large commitment – are we on the same page when it comes to our assets and finances? A phrase that may float around throughout the process could be “pre-nup” or “post-nup” referring to either a pre-nuptial or post-nuptial agreement. This type of agreement is quite intimidating to a lot of soon-to-be-weds or newlyweds due to the grim circumstances that could surround their necessity – divorce. While this is an understandable initial feeling, a pre-nuptial or post-nuptial agreement is the ideal way to make sure both individuals involved are clear with each other as to all assets and duties involved when entering a marriage as well as the overall intentions as to what will be done with them if the marriage were to ever end. This sort of agreement can provide peace of mind and the upmost security that this marital commitment will not have greater unforeseen implications down the road if it were to be severed.

The terminology of each type of agreement simply refers to when the agreement was signed. A “pre-nuptial” is executed prior to a marriage while a “post-nuptial” happens following the marriage already taking place. A pre-nuptial agreement is a general recommendation to most if not all couples soon to be married, while a post-nuptial agreement may come about as a general recommendation or due to a specific triggering scenario (such as a large inheritance gained by one spouse). This type of agreement is a contract, signed and bargained for by both parties, and can accomplish many goals to provide clarity to actions both during and after a marriage. Lastly, such an agreement consistently helps save both time and money if a divorce were to ever occur as a properly formed and executed agreement cuts months off of litigation in court.

While it may be daunting initially, a pre-nuptial or post-nuptial agreement is an amazing tool to provide the most amount of clarity possible in a marital situation, regardless of the amount of assets involved.

To learn more, please contact the experienced estate planning attorneys at Sinclair Prosser Gasior by calling (410) 573-4818 to schedule an appointment.

Nathan Seidle
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