What is a Prenuptial Agreement?
A prenup agreement is a contract between spouses that allows the parties to decide and agree on the fate of their present and future assets should the marriage come to an end. If no valid marital agreement is present at the time a marriage comes to an end, spouses are exposed to having the courts apply present law and precedent to their unique circumstances and reaching an undesirable outcome. There is also a significant amount of financial and emotional risk associated with marriages that do not have a prenup. For these reasons, it is important that potential spouses discuss obtaining a premarital contract and seek advice.
What is a Postnuptial Agreement?
A postnuptial agreement is the same thing as a prenuptial agreement except that it is negotiated and executed after the marriage has already been legally consummated.