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Planning a wedding is an intensely exciting time, during which every little detail brings you one step closer to saying “I do.” However, somewhere between the color scheme and the wedding march, it is important to remember that a marriage is the joining of two lives in their entirety. Not only will you be sharing a family and a home, but you will also be sharing in each others’ financial status, for better or for worse.
Although as we discussed in another blog that the divorce rate is dramatically decreasing, it is still the sobering reality of a significant portion of the population. Therefore, it is vital to protect yourself, and your dependents, from any financial fallout that may occur after a divorce. If the wedding has not happened, you still have time to complete a prenuptial agreement. If, however, you are already solidly into the marriage and the honeymoon phase is long-past, do not fret; a postnuptial agreement is available.
Both a prenuptial agreement and postnuptial agreements are legal documents that specify what happens, should the marriage come to an end. The sole difference between the two is, the prenuptial is signed before the wedding begins, while postnuptial begins after entering into the union. The primary focus of either agreement is the financial outcome, such as the division of property and debt, but since the spouses create these arrangements with the assistance of a skilled attorney, they can include or exclude anything a party wishes to be made clear. Some spouses even go so far as to explain the outcome, should there be infidelity during the marriage. Most couples include information regarding:
One common perk most clients experience is that, even under tumultuous circumstances where one spouse feels slighted by signing an agreement, the conditions while creating a pre or postnuptial agreement are exponentially better than deciding the same outcomes during divorce. It is better to discuss these matters when both couples are full of love and appreciation for one another, rather than after years of marriage and a potentially unsavory turn-of-events. After all, no one enters into marriage while already hoping for a divorce, yet life has a surprising way of changing our plans. It is better to be prepared than caught off-guard.
Whether you decide what you would like to happen while you are still full of gratitude for each other or a judge divides it up for you among feelings of anger and hatred is up to you, but either way, should the marriage end, these areas need resolution. If you are considering filing for a pre- or postnuptial agreement, an experienced DuPage County prenuptial and postnuptial attorney can help. The proven lawyers at the Law Office of Martoccio & Martoccio are available to answer your questions and guide you through the process. Call our office at 630-920-8855 today to discover how we can help.
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