A Postnuptial Agreement Can Protect Assets In Louisiana Divorce
When two people decide to marry, they are likely more focused on short-term decisions, such as wedding venues and guest lists. Many people may not consider what will happen financially in the event that the relationship falls apart. Although a prenuptial agreement can help plan for such an outcome, a postnuptial agreement can also help people in Louisiana plan — even after they have said their vows.
A postnuptial agreement is similar to a prenuptial agreement except that is is signed after a couple has married or entered a civil union. In such an agreement, a couple can decide how assets will be divided in the event of a divorce. Other issues, such as the division of debt and provisions concerning alimony, can also be included.
There are several benefits to creating such a document, which include safeguarding some assets for children from a previous relationship. These agreements can also be used be protect an anticipated inheritance or jointly owned business. Some people even create postnuptial agreements as signs of their commitments to their marriages. For example, in the case of adultery, a person can make certain financial concessions in such an agreement to show his or her commitment to saving the marriage. Additionally, those who choose to leave the workforce to care for children may appreciate the financial security an agreement such as this can provide.
It is easy to understand why some people in Louisiana may be reluctant to discuss the possible ends of their relationships while still in the glow of their engagements. However, the creation of a prenuptial or postnuptial agreement can help a couple plan for separate financial futures, as well as provide guidance in the event of a divorce. Such a safeguard has paid off for others who were able to resolve their issues without engaging in lengthy and potentially contentious litigation or negotiations during an emotionally trying time.
Source: ABC News, “Forget the Prenup: Why You May Need a Postnuptial Agreement“, AJ Smith, Feb. 16, 2015