It is obvious that putting together a postnuptial agreement is a good time
to deal with finances, but it can be more rewarding than you may think.
Sometimes a spouse in a marriage feels as though the other is hiding assets
or is not contributing enough. There are also situations where a spouse
feels he or she should be named on the property individually or wants
both names on it. The issue of who takes responsibility for paying off
debt is also a necessity to discuss.
Money can be an awkward topic to bring up, especially when your intentions
can be misconstrued. However, a marriage should also be looked at as an
economic partnership and the finances need to be sorted out. Putting together
a postnuptial agreement provides the option to express any financial concerns
and settle any issues.
In order to discuss finances, you are going to need to gather a lot of
paperwork. A postnuptial agreement is the perfect opportunity to get a
hold of all financial documents and be aware of what you and your spouse's
financial state is. It is a time where your assets, debts and spending
habits will be unveiled and can be made sense of. Once you have all your
finances out in the open, you can organize your financial life better
while simultaneously organizing the documents. Different ideas, such as
chidrens' allowances and shopping money, can be discussed during this
It is an ideal time to spruce up your communication when everything is
on the table. A postnuptial agreement is a safe time to talk about where
you see problems in your marriage and how you could come up with a solution
to resolve these problems. You can also talk about what you expect out
of the marriage and what circumstances would alter those expectations.
Many marriages fail due to poor communication, so this is a great opportunity
to strengthen your relationship and set standards.
We cannot know what the future has in store for us, but we can prepare
for different scenarios. Yes, the event of a
divorce should be discussed, but also the event of tragedy.
It is a good time to explore the idea of getting different types of health
insurance or choosing a power of attorney.
It is very helpful to have a clear idea of what your marriage's priorities
are and how you are going to achieve them. Priorities can be broken down
into retirement, vacations, children's college, luxury vehicles, boats,
etc. Once you get an idea of what is most important for your marriage
to achieve financially, you will find more success in working towards it.
Please contact us today to learn more about how we can assist you.