Couples in Pennsylvania who are in need of a financial reset may consider signing a postnuptial agreement. This is a legal contract between marriage partners. It serves to protect assets that are acquired throughout the time that a couple is married. It is kind of like a prenuptial agreement, but it is signed during the marriage.
A postnuptial agreement may be beneficial when helping a couple to look at their finances and add some clarity. It can help the couple establish new money routines, especially if one or both partners is not the best at handling money. It can also help to correct past financial actions that were wrong.
Couples who own a business together may find that a postnuptial agreement can protect their business. When the couple starts talking about signing this agreement and starts gathering help from professionals to create the document, including a certified financial planner and accountants, it allows them to have an honest conversation regarding their finances and the finances of their business. It allows them to fully disclose all assets. They can talk about issues with the business and significant investments that have been made.
One difficult but necessary subject to address is debt. Discussions about finances and postnuptial agreements allow couples to determine how the debt accumulated and how it will be paid off. It can help a couple lay out a plan for the future and discuss how this issue will be handled if they separate or divorce.
When drawing up a postnuptial agreement, it can be easy to forget smaller details. A lawyer might help a person draft a postnuptial agreement and help them to factor in things like retirement savings, investments, child support and insurance. The lawyer may also answer other questions that a person might have when thinking about how divorce will affect their life.