Table of Contents

• Basic Differences
• Pros And Cons Of Prenuptial Agreements
• Pros And Cons Of Postnuptial Agreements
• Who Can Help Me Draft A Prenup or Postnup Agreement?
• Do I Have To Disclose All Assets?
• Legal Counsel From KNK Law

Prenuptial agreements are agreements signed by soon-to-be married partners about how assets will be divided if they were to get divorced, while postnuptial agreements are similar, but are signed by currently married couples. While both agreements are put in place to help keep your assets earned before marriage in your own hands, there are some slight differences between the two legal contracts. 

Basic Differences

The first difference between prenuptial and postnuptial agreements is the timeline. Prenuptial agreements are drafted and signed before marriage, while a postnuptial agreement will be signed after marriage. Some couples either don’t know about a prenup or didn’t think they would need one, so they work on a postnup after obtaining more assets individually within marriage or combined assets. 

The reasons for a prenup or postnup can range drastically, but they are typically used to protect large assets earned before marriage or protect assets for children from a previous marriage. Postnuptial agreements are often formulated to build more financial trust between spouses. Postnups can also be used to update your prenuptial agreement if more assets have been obtained or you have changed jobs and had children. 

Pros And Cons Of Prenuptial Agreements

One of the biggest benefits of a prenup is that it is more likely to be enforced, compared to a postnup. Courts believe that coercion is less likely to be present if your agreement was established before your marriage. 

Prenups also allow you to discuss important financial matters before you commit the rest of your life to someone. Finances can be a difficult topic, but a prenup almost forces couples to have these conversations and discuss potential pitfalls that could come up later in the marriage. 

A con of prenuptial agreements is that many people have a negative mindset around prenups. Signing a prenup before marriage can make some partners skittish or cause bickering between partners before marriage. 

Pros And Cons Of Postnuptial Agreements

Postnuptial agreements are often clearer and beneficial once partners are able to see how their finances are used or they navigate job changes. Postnups can help eliminate anxiety about inheritance that may have been obtained during the marriage, new financial discoveries, or large investments.

For marriages that are feeling distrustful or financially strained, a postnup can be a kind of safety blanket or sign of commitment. Signing and working on a postnuptial agreement together can help bring trust back into your marriage and give you peace of mind about your financial assets if you do end up getting divorced. 

The main con of postnuptial agreements is their relevance it has in a court. Courts and judges often see postnups as less enforceable because married partners can be coerced by each other to split assets differently than they would if they weren’t together. However true this may be, postnups are better than having nothing and navigating financial splits during divorce proceedings. 

Who Can Help Me Draft A Prenup or Postnup Agreement?

A lawyer who specializes in family law, divorces, or prenup or postnup agreements can help you draft your contract. Working with a legal professional will help ensure that your agreement is legally binding, has clear and defined terms, and is signed properly by both parties. Your prenuptial and postnuptial agreements can also be stored or have a copy stored with your lawyer for safekeeping and future reference. Working with a legal expert you trust is important when it comes to dividing your assets.

Do I Have To Disclose All Assets?

Yes, these agreements take into account all assets you may have before a marriage or ones you have obtained during your marriage. Failure to disclose all assets can make your prenup or postnup null and void or result in severe legal consequences. Putting all assets in an agreement will also ensure you get what is rightfully yours during a divorce. If something isn’t listed or split in the legal document, half or more could end up going to your spouse when you go through divorce proceedings. 

Legal Counsel From KNK Law

Our lawyers with Kaufman, Nichols, and Kaufman have experience working with complex divorce cases, estate planning, and family planning. Legal representation is often life-saving during a divorce and can help ensure that your proceedings are completed without too much hassle. Our team has been serving the Ogden, UT, community for many years, allowing them to have peace of mind about their children, future, and finances. Reach out to us to meet our lawyers and find the best fit for your needs.