Marriage is an important step in the relationship of many couples. Before deciding to get married, couples will have plenty to discuss and prepare. Most of the time, these discussions can even last once they’ve become husband and wife. One way the law ensures that that these decisions are properly made is through premarital and postmarital arrangements. These contracts also known as prenuptial and postnuptial arrangements in some select states.
Premarital and postmarital arrangements basically detail a set of rules agreed upon by the couple. These rules are concerned with financial decisions in the event of separation, divorce, or death of a spouse. In particular, these arrangements are meant to field decisions about the distribution of their property and death benefits. Premarital contracts are signed during a couple’s engagement, while a postmarital contract is arranged after a couple is legally wed. According to the website of Holmes, Diggs, Eames & Sadler, both these arrangements help support the best interest of the couple and allow them to plan for any unforeseen circumstances.
There are many reasons why couples can benefit from either a premarital or postmarital arrangement. Certain situations might necessitate that the states of a couple remain separate after their marriage. For example, a business owner might need to have her finances separated from her husband’s to avoid complicating established arrangements. The website of the Houston divorce lawyers at Holmes, Diggs & Eames also points to scenarios involving spouses with children from an earlier marriage, and those who have future inheritances or significant amounts of debt or assets.
According to the website of Arenson Law Group, PC, one of the most obvious benefits of a premarital or postmarital arrangement is the fact that it can ease the process of transition in case of divorce or the untimely death of a spouse. Working with an experienced family lawyer can ease the management of financial details during such difficult times and can spare many headaches to both spouses.