A postnuptial agreement is the same as a prenuptial agreement, except that it is entered into after marriage. It is a contract that alters the laws that would otherwise apply to the marriage relationship. The contract sets forth each party‘s interest in his or her own property. The agreement must be fair, supported by consideration, and not made in contemplation of divorce.
Why might someone want or need a postnuptial agreement? This situation frequently arises when there are business interests that one spouse is seeking to protect. Perhaps a spouses business is growing and that spouse wants to ensure that the business is deemed his or her separate property for now and the future.
One spouse might have received an inheritance and might want to enter into a postnuptial agreement regarding the inheritance, in order to protect it as a separate asset. Perhaps the married couple entered the marriage and had no time to consider a prenuptial agreement. May be at the th had no assets and have no accumulated substantial assets and want to set forth their agreement regarding the assets.
Prenuptial and postnuptial agreements are ripe for challenges and attacks. Make sure you consult an experienced attorney who can anticipatét pitfalls ahead of time and plan accordingly.