There’s no doubt that getting married is an important decision. This major life change can also have an impact on your finances in the future. If you want to protect your financial future in New Jersey, and you didn’t sign a prenup, signing a postnup might be a wise decision. Here are a few signs it might be for you and your spouse to sign a postnuptial agreement.
You or your spouse received an inheritance
As people get older, it’s not uncommon for parents and other relatives to pass away. If you were one of their beneficiaries, you could receive a sizeable inheritance. With a postnuptial agreement in place, this inheritance can remain with you or get left behind for your children. Without a postnup, this inheritance could go to your spouse after you pass away.
Your spouse is in a lot of debt
When comparing prenups and postnups, these arrangements aren’t only available to protect someone with a lot of assets. You can also establish a postnup if you recently found out your spouse is in financial peril. For example, some people will establish a postnuptial agreement after learning that their spouse is in deep debt.
Potentially stopping a divorce
Over time, some people’s attitudes toward staying married can change. Sometimes, one spouse will establish a postnuptial agreement to persuade another spouse to change their minds about wanting to end their union. While there’s no guarantee this action will achieve its desired outcome, having a postnup in place could prevent you from dealing with further divorce disputes.
In closing, there are a few reasons why it’s a good idea to establish a postnuptial agreement with your spouse. This kind of agreement can provide you with peace of mind that your assets will remain protected.