Postnuptial agreements for those without prenups
Before ‘I do,’ have an honest conversation with your partner about money, children and prenuptial agreements should your relationship end. If ‘I do’ is already ‘I did,’ here’s what you should know about postnuptial agreements.
Pre and postnuptial agreements & divorce with Jennie Wray
Jennie Wray is a partner with Denver’s Harris Law. One of the firm’s most accomplished attorneys, Jennie has been named a Super Lawyers Rising Star for five years running. She was also nominated for Denver Business Journal’s Top 40 Under 40 in 2016 and 2017. A graduate of Vermont Law School, Jennie gained valuable insight into family law and court proceedings externing for New Jersey’s Presiding Judge in the Civil Division and the Hudson County Superior Court, Family Division. She has been with The Harris Law Firm since October of 2008, providing legal representation to clients in the dissolution of marriage and the allocation of parental responsibilities.
Jennie shares important information about setting up a marital agreement (prenuptial agreements, postnuptial agreements and divorces) to protect both partners as well as any children from previous relationships. She explains the traditional provisions of these marital agreements, the concept of ‘marital property,’ and how the court views debt amassed before and during a marriage.
Learn how postnuptial agreements may be your plan B if you missed your plan A:
Topics covered on pre and postnuptial agreements
Jennie’s advice about what to consider before you say ‘I do’
- Sit down and have conversation
- Protect yourself, any children
- Minimize risk with marital, premarital agreement
The difference between a prenuptial and postnuptial agreements
- Premarital agreement starts from date of marriage
- Postnuptial agreements the same as date signed
- Making changes to marital agreements
The traditional provisions of pre and postnuptial agreements
- What to do with property, businesses
- Support provisions (i.e.: alimony)
- Define roles around disability, death
What you cannot delineate in pre and postnuptial agreements
- Visitation, child support
- Remedies for domestic violence
- Anything against public policy
How the court defines investment appreciation
- Considered marital property, even if property itself separate
- Appreciation of business works the same
How the court defines depreciation and debt
- Depends on when acquired, nature of debt
- Credit cards can be argued as separate
- Student loan debt considered marital if went to mortgage, food, etc.
- Debt acquired during marriage belongs to both
Jennie’s advice about protecting children from previous relationships
- Work with family lawyer and estate planning attorney
The need for each partner to access independent legal counsel
The importance of adequate financial disclosure
- Accounts, property, income
- Personal debt, credit cards
- Retirement/estate plans, investments