Couples thinking about divorce often consider other available options before deciding to file the papers. One alternative that has become increasingly popular recently is the postnuptial agreement.
A postnuptial agreement is a contract entered into by a married couple that typically delineates the manner in which marital property will be divided in case of a divorce. More recently, couples have been putting them to broader use.
These days, more spouses are hiring lawyers to draft postnuptial agreements, both in an effort to avoid divorce and to solve recurring issues in the marriage. Those problems can range from serious financial concerns to determining which spouse will be responsible for various household chores, like doing the dishes or taking out the trash.
Not only are the problems addressed in these agreements becoming more varied, but the clientele hiring attorneys to draft them is now more diverse. Postnuptial agreements used to be considered mainly by the very wealthy, particularly by those who acquired their wealth during the marriage, often due to promotions or inheritances.
The American Academy of Matrimonial Lawyers conducted a poll of its members and found that almost half of those surveyed had seen an increase in the number of clients requesting postnuptial agreements.
Additionally, some spouses are using this tool as a way to revise previously executed prenuptial agreements. Some use a postnuptial agreement to extend a prenuptial agreement that is set to expire after a certain period of time. Others have signed a postnuptial agreement to make strict provisions in the prenuptial agreement more moderate, particularly in cases where the couple has already enjoyed a lengthy marriage.
For a couple considering divorce or having difficulty navigating through complex issues, a postnuptial agreement may provide some solace.
Source: The Daily Beast, "Postnups Becoming More Popular, but They're Not for Everyone," Jacoba Urist, May 20, 2012.
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