Butler Prenuptial & Postnuptial Agreement Lawyer
A marriage can only end in two ways: divorce or death. While no newly weds plan on getting divorced, the truth is that around 40 percent of marriages end in divorce. This number is even higher for people who have been married and divorced before; 67 percent of second marriages end in divorce, and 75 percent of third marriages end in divorce, according to Psychology Today. While getting a prenuptial or postnuptial agreement may seem like it is signaling poor faith in the marriage or distrust in your partner, it is actually a wise legal tool that can help to ease tensions and financial conflict, actually helping to strengthen the marriage. Our experienced Butler prenuptial & postnuptial agreement lawyers can help you draft a ‘prenup’ or ‘postnup’ document to fit your specific needs.
Prenuptial Vs. Postnuptial Agreement
From differing financial priorities and credit card debt, to overextending a budget and impulse buying, money is one of the biggest sources of conflict in marriage, and a top reason for divorce, according to Business Insider. A prenuptial and postnuptial agreement can accomplish the same things—separation or management of businesses, retirement accounts, bank accounts, bills, mortgage payments, real property, and virtually all other assets. The difference between a pre and postnuptial agreement is that a prenuptial is created and signed before marriage, while a postnuptial can be created and signed at any time during the course of the marriage. While a prenuptial agreement may have never crossed either spouse’s mind before getting married, certain facts may come to mind during the marriage that can be addressed with a postnuptial agreement. For couples who are not married, a cohabitation agreement may be beneficial. A cohabitation agreement works the same way a pre or postnuptial agreement does, but separating various assets.
Common Reasons for Getting a Prenuptial or Postnuptial Agreement
Not all prenuptials and postnuptial agreements are created because the couple is worried they will get divorced and the resulting mixed finances will lead to a messy legal battle. While that is certainly one of the top priorities that people have when signing pre or postnuptial agreements, there are other reasons to keep finances separate. If you and your partner have any of the following elements in your marriage, you may want to consider drafting a pre or postnuptial agreement with a qualified attorney:
- One party has a significant inheritance;
- The party’s income or assets are significantly different;
- One or both parties have children from a previous marriage or relationship;
- One party has a gambling addiction or substance/alcohol addiction;
- One spouse has significant debt, or a spending problem; or
- The age difference between spouses is significant.
Elements of a Valid Prenuptial Agreement
In Pennsylvania, a prenuptial agreement is valid only if:
- The document is in writing;
- It is signed by both parties;
- There is full and fair disclosure of assets and liabilities of each of spouse; and
- The contract is not a result of fraud or duress.
A Butler Prenuptial and Postnuptial Agreement Attorney Can Help
Here at the Butler law offices of Bunde & Roberts, P.C., our prenuptial and postnuptial agreement lawyers can help you draft a ‘prenup’ or ‘postnup’ that fits your specific needs so that your finances and future are protected, and your marriage feels more secure. Call us today at 412-391-4330 to schedule your consultation.