There are many reasons why a marriage turns rocky, and, in these tough economic times, many miscommunications, disagreements, and resentments lie in financial insecurity. Financial problems, even potential financial problems or uncertainties, are a cause of emotional stress which can turn a good marriage into a barely functioning one with an ongoing “blame game.” According to The Huffington Post, the answer to resolving such issues may simply be a post-nuptial agreement.
A post-nuptial agreement, like a pre-nuptial agreement, is a voluntary marital contract that outlines each spouse’s obligations and responsibilities when it comes to spending, debt, and both individual and marital assets. Unlike a pre-nuptial agreement, however, it is entered into after marriage. Many marriages do not have a pre- or post-nuptial agreement, but every marriage and every spouse is different. Every married couple needs to go with what works for them.
Post-nuptial agreements can cover a wide range of issues, including:
- Joint versus individual property;
- Responsibility of debt;
- Allocation of earnings;
- Disposal of business after disability, divorce, or death;
- Distribution of assets after divorce or death;
- Business roles;
- Future priorities, such as children, education, and retirement;
- Life insurance; and
- Wills.
With contentious financial issues taken care of, a married couple can let go of the ongoing stress that made the marriage difficult; and if, for whatever reason, the couple decides to go their separate ways, the post-nuptial agreement provides a framework for a divorce agreement. If you and your spouse live in Illinois and believe that a post-nuptial agreement is a viable option for your situation, contact the experienced Chicago post-nuptial agreement attorneys at Nottage and Ward today at (312) 332-2915. We look forward to answering any questions you may have.
