One of the most common trip-ups that marriages struggle with and that ultimately can be the final straw is the topic of finances. While a marriage is built on love, more often than not, it’s money that tears it apart. If you didn’t have a prenuptial agreement in place prior to marriage, then you may have the ideal opening to come in with a postnuptial agreement.
A postnuptial agreement lays out how assets are divided should the couple split. It also has a cathartic way of nailing down specifics on the stressors that are hindering the relationship the most. While counseling can determine where the issues are, the postnup can take the issues completely apart, making the threat of financial ruin less of a formidable opponent and breaking it down into small pieces that are conquerable. Plans can develop, and teamwork can thrive.
A few issues a postnuptial agreement may address are:
- How are earnings allocated between each spouse? Are there discrepancies between who spends what and who saves?
- Does a spouse have a role in the business that is unpaid?
- Who accrues the debt? Is it in both names or only one name?
- What are the immediate and long-term goals of the couple?
If you and your spouse are struggling with finances or are finding they are a growing topic of contention, a postnuptial agreement may go a long way in ironing out the issues. A family law attorney may be able to begin the process of helping you plan for your future and diminish the undiscussed issues arising from your finances today.