Postnuptial Agreement

A postnuptial agreement is a legal contract entered into by a couple after they are already married that outlines the rights and responsibilities of each spouse in the event of divorce or death. A postnuptial agreement can also be referred to as a postmarital agreement or postnup. 

The main purpose of a postnuptial agreement is to establish terms for the division of assets, spousal support, and other financial matters like issues related to property ownership, debt allocation, inheritances, business interests, etc. A postnuptial agreement can also serve to protect assets acquired before the marriage, minimize conflicts in the event of divorce, and provide a sense of financial security for both spouses. 

Often, the creation of a postnuptial agreement is triggered by a significant life event like the birth of a child, a change in financial circumstances, or concerns about the future of the marriage. The enforceability of a postnuptial agreement may be subject to certain legal requirements such as full and fair disclosure of assets, voluntary and informed consent of both spouses, compliance with state laws governing marital agreements, and more.