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Can I still protect my finances after marriage? Pt. 2

In a recent post on our family law blog, we introduced a candid discussion about what is perhaps the lesser-known of what are both invaluable marital contracts. The postnuptial agreement can go far in protecting your financial stability.

An obvious reason why you would want a postnup is quite simple. Whoops! You and your spouse didn’t get the prenuptial agreement that you should have created. Once you realize that you forgot that protective step, the first hurdle for some in Florida marriages is to convince the spouse to move forward in co-creating a postnup.

Do you own a business that deserves protection? All kinds of people get married, including entrepreneurs. If you started and/or own a business of which you are proud and don’t want it to suffer if your marriage does, then a postnup can serve your interests.

If your spouse agrees, you can state within the contract that the business remains your asset and its earnings are also to remain yours. You could also choose to be more generous by putting a limit on the percentage of earnings during the marriage your ex would get.

Did you inherit money or other assets that should remain yours? Loved ones pass away during our lives. It is a sad reality. Those loved ones will have often put time, stress and love into their estate planning. When they leave you an inheritance, whether it be money, real estate or other valuable property, they had your best interests in mind, not necessarily the interests of your spouse.

Your postnup can clarify that an inheritance, including future inheritances, will remain your property. This can get complicated if money from the inheritance goes toward, for example, the purchase of real estate by you both as a married couple.

Work with your trusted family law attorney to address those complex aspects of your finances. Working out those details proactively can save you from the extra stress and hostility that could come from ironing out those matters amid a divorce.

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