A prenuptial agreement is a document both spouses sign stating how to divide certain assets in the event the marriage ends in divorce. Many spouses want these documents to protect their money and property, but there have been plenty of instances when a court overturned a prenup because it did not meet the court’s standard of quality.
Both people in the marriage may be completely fine with a prenup before the marriage. However, after the wedding is far gone in people’s memories, one or both spouses realize a change is necessary in the agreement. As long as both people agree to it, then it is completely possible to legally modify a prenup after a wedding. This is a postnuptial agreement, and there are several circumstances where it can be extremely advantageous.
1. A change in one person’s financial situation
The spouses may enter the marriage with each person making relatively the same amount of money. However, after a few years, one spouse receives a promotion and starts earning a lot more money. He or she may want to protect this increase in income by modifying the prenup. It is vital to bear in mind that a spouse cannot prevent another spouse from receiving all alimony, but both parties can take steps to ensure the prenup reflects this new financial situation. This also holds true in the event one spouse starts earning far less money than when both spouses signed the prenup.
2. A move to another state
All states have slightly different laws regarding how to interpret and write prenups. In the event a married couple moves to another state, they would want a lawyer in that state to review the prenup to ensure everything is still interpreted the same way as originally intended. Regardless of what exactly is in the prenup, attorneys will always review it in the event of a divorce to ensure everything in it is legal.