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    February 13, 2016

    Postnuptial Agreements

    postnuptial agreement greenville south carolina upstate family law attorney

    When two people fall in love and get engaged, the months before the wedding takes place are often hectic with making plans for the wedding as well as for their future home together. At a time like this, so much of what you are doing in each moment is all about planning for a life together.  While most people do not enter into marriage with the thought that it may end in divorce, in light of the sobering statistics on the divorce rate many couples consider it in their best interests to have a prenuptial agreement. At Lauren Taylor Law, our family law attorney knows that with all the busyness that goes into planning a wedding, it is easy for something as seemingly unromantic as a prenuptial agreement to be neglected. If you have not had a prenuptial agreement drafted prior to marriage, it is not too late. Post-nuptial agreements have become increasingly popular for couples, and can be drafted at any time after getting married to ensure your assets are protected.

    The Importance of a Postnuptial Agreement

    A marriage is meant to be a lifetime commitment between two people who pledge to love one another regardless of what the future may bring. Unfortunately, staying married during the inevitable problems and pitfalls that every couple faces is often easier said than done. According to the Bureau of Labor Statistics, roughly 42 percent of marriages end up in divorce by the time the partners reach their fifties. The reasons a marriage falls apart vary and include everything from abuse and infidelity to irreconcilable differences, and while some couples are able to make the split amicably, divorce can be a contentious and costly experience.

    READ  Common-Law Marriage Requirements

    For couples who neglected to have a prenuptial agreement drawn up prior to marriage, a postnuptial agreement is a practical alternative. According to a 2015 ABC news report on post-nuptial agreements, many couples consider this type of document in marriages in which one partner leaves the workforce in order to stay home and raise children. The spouse who gives up a career gives up the financial benefits associated with that career, and in the event of a divorce, a postnuptial agreement can provide financial security while they regain their professional footing. Prenuptial agreement are also a smart move in second marriages, to ensure the assets you have accumulated thus far as protected for the sake of any children from previous relationships.  

    What to Include in a Postnuptial Agreement

    According to the American Bar Association, there are several things you should do prior to drafting a prenuptial agreement:

    • Make a list of all personal belongings that you brought into the marriage, as well as those you have amassed since your marriage, such as jewelry, furniture, and housewares.
    • Make a list of all gifts you and your spouse have received from family and friends.
    • List all financial assets you have accumulated, including stocks, bonds, pensions, annuities, and even frequent flyer miles.
    • Make note of any purchases you made using one partner’s funds exclusively.

    Make sure to keep track of new items as they occur, and make a list of any potential large purchases you foresee making in the future.

    Contact Our Experienced South Carolina Family Law Attorney

    If you or someone you love is considering either a prenuptial or postnuptial agreement, contact our experienced South Carolina family law attorney.  At Lauren Taylor Law, we provide professional legal advice and assistance in drafting and filing your agreement, either prior to or after you are married. Offering comprehensive, caring legal service, our Greenville attorney can guide you through the entire process, while ensuring your rights and assets are protected. Serving Greenville and the surrounding areas, call or contact us online for an initial consultation.