Signing a prenuptial agreement is a smart way to protect one’s future in the event of a divorce, but it is certainly not the only way. In Kentucky, a postnuptial agreement can afford many of the same benefits as an agreement signed prior to marriage. There are a number of reasons why a couple might choose to create a postnup, too.
For example, a couple might decide on a postnup if one spouse is going into business. Businesses can be particularly vulnerable during divorce, even if one spouse was never involved with it. A postnuptial agreement can clearly state that a business is separate property and not subject to division during divorce.
A postnuptial agreement can also be a helpful tool for a couple that is seeking reconciliation. It takes a lot of courage to try again after something like a gambling debt or infidelity. This is because a couple can go ahead and agree on certain divorce terms, such as property division, giving both spouses a sense of confidence regarding their future finances. Knowing that their futures will be taken care of regardless can be extremely helpful to both people.
Even a married couple who already has a prenup can benefit from a postnuptial agreement, as they can use it to make changes to their original agreement. This is often necessary when there are significant financial changes. But regardless of the reason a couple in Kentucky might need a postnup, it is usually wise to seek input before signing anything. When creating a postnup, it is easy to make mistakes that lead to unintended consequences or even render an agreement unenforceable.