Can You Get a Prenup After Marriage?
Chapters
Chapter 7
Can You Get a Prenup After Marriage?
Short Answer: No, But There’s an Alternative.
Technically, you cannot get a prenuptial agreement after you’re married. Prenups, by definition, must be signed before the marriage takes place.
However, couples in the UK can still achieve similar protections by entering into a postnuptial agreement.
A postnup works in much the same way as a prenup but is executed after the couple has already married.
What is a Postnuptial Agreement?
While you can’t sign a prenup after marriage, a postnuptial agreement offers a viable alternative.
A postnup allows couples to outline how assets, property, and debts will be divided if the marriage ends in divorce.
It can also include provisions about inheritance, spousal maintenance, and business assets.
Essentially, a postnup covers all the aspects that a prenup would, but it’s signed after the wedding.
When Might a Postnup Be Useful?
- New financial circumstances: If one spouse acquires significant assets after marriage, such as an inheritance or a new business.
- No prenup was signed: If the couple did not sign a prenup before marriage but later decided they wanted a legal agreement outlining their financial obligations.
- Changes in the relationship: If marital dynamics change, such as after having children or if one spouse takes on a different financial role in the relationship.
Why Would You Need a Postnup Instead of a Prenup?
Couples often turn to postnuptial agreements when financial or personal circumstances change after the wedding.
Here are some common scenarios where a postnup may be more appropriate than a prenup:
- Acquisition of new assets: If one spouse starts a successful business or receives a substantial inheritance during the marriage, a postnup can ensure that these assets are protected in case of a divorce.
- Debts incurred after marriage: If one spouse accumulates debt during the marriage, the couple might want to agree on how these debts will be divided if the marriage ends.
- New roles within the marriage: Changes in employment status, such as one spouse leaving a career to take care of children, can make a postnup necessary to clarify financial responsibilities.
Example:
If a spouse starts a business after marriage, a postnup could specify that the business remains their personal property, protecting it from being divided in a divorce.
Similarly, if one spouse inherits property or wealth during the marriage, the postnup can ensure it remains separate from marital assets.
Advantages & Disadvantages of a Postnuptial Agreement
Advantages
- Flexibility: A postnup can be tailored to fit new financial situations or future life changes, such as starting a business or receiving an inheritance.
- Clarity in financial expectations: By signing a postnup, both parties are clear on how finances will be handled during the marriage and if the marriage ends.
- Asset protection: A postnup can protect inherited assets, business interests, and family wealth that accumulate during the marriage.
Disadvantages
- Court Scrutiny: Postnups can sometimes be viewed more critically by courts, particularly if they were signed under questionable circumstances, such as during a time of marital conflict.
- Emotional Sensitivity: Negotiating a postnup can sometimes introduce emotional strain into the marriage, as it involves discussing potential divorce during the relationship.
Final Thoughts: Why a Postnup Could Be the Right Choice After Marriage
While you cannot sign a prenuptial agreement after marriage, a postnuptial agreement provides a similar level of protection and clarity for couples who wish to outline how their assets and financial responsibilities will be managed in the event of a divorce.
It’s crucial to seek independent legal advice and ensure that the agreement is fair and in the best interest of both parties.