If you are getting married and are considering whether or not you need to sign a prenuptial agreement or if a post-nuptial agreement will suffice, there are a few things that you need to know before you make your decision. There are many differences such as the timing, what is covered in each process, and the legal implications of each contract. Here are the main explanations of the differences.
When It Takes Place
The main Difference between Pre-nuptials & Post-nuptials Agreements lies in the timing of the agreement, meaning when the parties involved make and sign the agreement. With a prenuptial agreement, the parties are both familiar with the contents and sign the document before the marriage takes place. With a post-nuptial agreement, the document is created and signed after a legal marriage has taken place.
What they Deal With
Another difference is what can be included in the post-nuptial and what cannot; for example, alimony and custody are not able to be discussed in a post-nuptial agreement. The timing can sometimes affect the liabilities and properties that are addressed in the that are not issues when signing a prenuptial agreement. Instead, most prenuptial cover things such as homes and savings, retirement, property owned before marriage, savings accounts and many others.
The Legal Requirements
The requirements for making a prenuptial and post-nuptial agreement legally binding are very different. A Difference between Pre-nuptials & Post-nuptials Agreements is partially the legal process. It is much more complicated when dealing with a post-nuptial agreement as many of the components have to be discussed in the presence of a lawyer in order to be considered legally binding. Also, a prenup can address pre owned properties and liabilities while a post-nuptial will address jointly owned properties. This can lead issue in making the agreement legally binding.
Now that you are aware of the two biggest differences between prenuptial and post-nuptial agreements, you can make an informed decision about which to employ in your personal relationship. Having this information can give you a starting point for the next steps you take. If you have specific questions about the process or the components that can be included, talk to your lawyer beforehand.