When is a postnuptial agreement a good idea?
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When is a postnuptial agreement a good idea?

On Behalf of | Jan 4, 2020 | Firm News |

The subject of a prenuptial agreement may not have come up before you and your spouse said, “I do” in Florida. However, just because you have already signed the marriage certificate does not mean it is too late to create an official financial agreement with your partner.

According to LendingTree, there are a number of life changes that may prompt a discussion about this contract between spouses.

Debt

Perhaps you or your spouse is preparing to go back to school and exploring student loan options, or maybe your family has offered to loan you a large amount of money for a home remodel. Or, maybe you have discovered that your spouse has a spending or gambling issue. These are all situations that you may address in a postnuptial agreement to prevent your spouse’s debt from affecting you negatively in the future.

Inheritance

A significant inheritance may change the financial landscape of your marriage. If you have recently received one or may soon in the future, it may be a good idea to talk to your spouse about how you want to manage this separate property.

One spouse quits a job

Although traditionally, women were the managers of the house and the primary caregivers of children, either spouse may be likely to take on that role now, and the savings on child care and other services can be tremendous. This can seriously affect the earning potential, retirement income and future wealth of the spouse who decides to stay at home, and it can even affect the balance of power in the relationship. If you and your spouse decide to make this change, it is a good idea to address its future impact.