In most New York divorces, spouses disagree over at least one major element. Child custody matters and property division are among the leading reasons divorce disputes arise. Although many believe dividing marital property is much easier when they possess a lot of wealth, this is typically not the case.
Even though there is plenty to go around in a high asset divorce, one or both spouses may be concerned about getting a fair share. Sometimes couples decide that creating a postnuptial agreement is a wise idea — and it can be a method to guard against serious conflicts should they later divorce.
What is a postnuptial agreement?
A postnup is almost the same as a prenuptial agreement except that it occurs after marriage. Essentially a contract between spouses, a postnuptial agreement allows you to define each party’s separate property to protect it in a divorce. The document also enables you and your spouse to outline how your marital property will be split when you divorce.
How can a postnup help you get a fair property settlement?
Postnuptial agreements sometimes come about because one spouse wants to launch a business and their partners demand it. Sometimes, a postnup is brought up because of an inheritance that one spouse wants to protect. They may also be used after a period of conflict in a marriage that almost led to divorce — just in case there’s ever a reason to consider divorce again.
Divorce is rarely easy or peaceful, and wealth can make it even harder. We recommend learning more about high asset divorce and postnuptial agreements in New York City. If you’re already on the verge of divorce, you should learn as much as you can about your options.