Postnuptial agreements are gaining popularity. A recent study by the American Academy of Matrimonial and Divorce Lawyers found a 51% increase in postnups in the last year.
Still I know that some spouses are offended by the concept. But couples may become more willing (or even enthusiastic) about executing a postnuptial agreement when they learn of the economic realities of divorce.
In short, postnups make the unpleasant process of breaking up much less stressful and expensive.
When a spouse calls me for a postnup it is usually for one of three reasons:
1. They wanted to do a prenuptial agreement but ran out time to do it before the wedding or the fiancee wasn’t keen on the idea at the time. The postnup offers another opportunity.
2. They expect to receive an inheritance, large gift, huge bonus or other big chunk of dough.
3. They are trying to salvage the marriage. A well-drafted postnup will address the financial issues in the event of divorce. This allows a married couple to focus their attention on working on their marriage without worrying about the financial uncertainties of if they part ways.
All of this brings me back to the mid 80’s when MTV actually played music videos. Cyndi Lauper had a tune back then that got some play – “Money Changes Everything.” She sings about how money interferes with interpersonal relationships. “We think we know what we’re doin’, that don’t mean a thing, it’s all in the past now, money changes everything.”
Don’t let finances ruin your marriage or let large legal fees bankrupt you if do you get divorced.