We have previously written on our blog about the benefits that prenuptial agreements can provide spouses in the event of a divorce. These agreements can reduce conflict and ensure that issues such as property division and debt allocation are handled smoothly and efficiently. Prenuptial agreements may be particularly useful for older couples who are remarrying because they can protect assets for retirement and heirs.

But couples are not barred from creating a protective agreement just because they have walked down the aisle. A postnuptial agreement provides many of the same benefits, but it is executed after spouses have been married. Their popularity may be rising, according to the American Academy of Matrimonial Lawyers, which reports that more couples are investigating whether to sign one.

Entering into a prenuptial or postnuptial agreement is not an indication that one’s marriage is troubled or the parties are skeptical about its long-term viability. One man who recently created a postnuptial agreement with his wife compared it to having a life jacket. While wearing a life jacket is not an acknowledgement that one will necessarily fall overboard, it provides much-needed safety in the event that seas grow rough and one’s boat capsizes. This metaphor concisely captures the protection that a postnuptial agreement can offer.

As with a prenuptial agreement, it is important that the two spouses give their mutual consent and that, when drawing up the contract, they hide no assets or liabilities from each other. Less than complete disclosure could be grounds for invalidation of the agreement in the event of a divorce.

Source: ABC2News.com, “Post-nuptial agreements gaining momentum,” Sept. 20, 2012

• Reaching an agreement on a variety of issues that would need to be sorted out if a divorce were to occur can reduce the stress of a divorce and may foster a more collaborative approach in the event of a separation. If you would like to learn more, please visit our Kingston divorce page.