The idea of making a prenuptial agreement before your marriage in Kentucky might have seemed too distasteful at first. Perhaps you thought your spouse would be insulted by bringing up the subject, or your spouse would figure you did not believe the marriage would work out. Whatever the case, you might have decided to go ahead with an agreement now, but having said your vows, you might fear it is too late to make such an agreement. Fortunately, that is not the case.
A “prenuptial” agreement is so named because it takes place before the nuptials. While a prenuptial agreement is out of the question after you marry, you can make a “postnuptial” agreement. Even though you have exchanged rings and said “I do,” with a postnuptial you can still put in place an agreement that would handle just about any issue that you could have addressed in a prenuptial.
According to the website for ABC News, couples can address many different issues in a postnuptial. You may want to determine how your assets will be divided in a divorce, including money accumulated in a joint bank account, or from investments like real estate. You also can spell out how property is distributed. You may want to make sure that you can keep a truck that you drive to work while providing for another vehicle to go to the other spouse.
Postnuptials can also deal with issues that stem from having been married previously. If you are on a second or third marriage, you might be concerned about your children from previous marriages receiving your assets. You can spell out how you want your assets to go to your children in a postnuptial.
Sometimes a postnuptial can even save a marriage. In the event one spouse commits an infidelity, that marriage will likely be in serious trouble. The offending spouse may use a postnuptial to draft favorable terms to the other as a way to show that the spouse is contrite and wants to improve their relationship. This may prevent a possible divorce altogether.
This article, while intended to educate readers on family law, is not to be taken as legal advice.