Many people are familiar with prenuptial agreements, also known as prenups, because celebrities and the super rich routinely get them to protect their wealth when they marry. But another legal contract becoming popular is the postnuptial agreement or postnup. As the prefix post suggests, it is created after the marriage takes place.
There are many reasons to create a postnup. Perhaps the couple eloped and never had a chance to create a prenup. Or the married couple experiences dramatic changes in their financial life, including the following:
A career change
Receipt of an inheritance
Profitable gains on investments
Launching or selling a business
Since money issues undermine many marriages, it makes sense for a married couple to formulate a plan for dividing property and assets fairly, and planning for spousal and child support as well as child custody.
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