Reasons Your Prenuptial Agreement May Need an Update

Creating a prenuptial agreement is helpful in settling financial issues that will come up during a divorce. The agreement lays out a plan for how premarital properties will be treated and what level of spousal maintenance will be provided. However, spouses should consider it a living document that may need to be updated. Financial circumstances in the marriage can change in ways that make the agreement obsolete or unfair to one party. It will be easier for both parties to renegotiate the prenuptial agreement while still married than during the divorce. Spousal Maintenance Parties in a prenuptial agreement may choose to establish the value and duration of spousal support payments after divorce, especially when one party has a significantly greater income than the other. However, the balance of financial power can change in a marriage:  The paying party may lose his or her job or see a decrease in income; or  The recipient party may find a new,…

Read more detail on Recent Family Law posts –

This entry was posted in Divorce Law and tagged , , , , . Bookmark the permalink.

Leave a Reply