Postnuptial Agreements Increasing in Popularity
A recent article in the Minneapolis Star Tribune discussed the recent surge of postnuptial agreements. These agreements are very similar to a premarital agreement, but instead are entered into AFTER a couple has been married. While they are still very rare (only 1 or 2 percent of married couples request postnuptial agreements) the agreements could become more popular in the near future as they become more common in practice. In fact, a 2007 study by the American Academy of Matrimonial Lawyers (AAML) indicated that 49 percent of the members said they’d seen an increase in postnups in the past five years.
These marital agreements and reconciliation agreements cover much of the same ground that prenuptial agreements do: issues of property division, spousal maintenance or the protection of inheritances for children from previous marriages. The big difference is that they’re entered into during a marriage, sometimes an unhappy marriage, which makes them especially hard to execute.
Postnups can be used in innovative ways that most would not suspect… Some married women use them after stepping out of the workforce to protect their financial future. Parents with special-needs children, or with grown children suddenly down on their luck, can also use a postnup to secure additional child support funds to care for them. A loving spouse might decide to add his wife to share ownership of a family property or item that otherwise would not be hers.
In Pennsylvania, prenuptial and post nuptial agreements are considered the same as any other contract parties may enter into and, therefore, are presumed to be valid and enforceable. If you have any questions regarding pre-marital, co-habitation, or post-marital agreements contact our offices immediately. Sheryl R. Rentz, a Pennsylvania family law attorney, is fully familiar with the particulars of each state’s premarital and co-habitation agreement laws. Contact us for a free evaluation and consultation today.