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What is a postnup?

| Dec 15, 2020 | Divorce |

Most people in Colorado have heard of a prenuptial agreement (or “prenup.”) A prenup can help you protect your assets in the event that you and your spouse file for divorce. But if you didn’t sign a prenup before you got married, it might seem like you’re out of luck. Fortunately, even married couples can protect their assets by signing a postnuptial agreement.

What is a postnuptial agreement?

A postnuptial agreement (or “postnup”) essentially provides the same function as a prenup. When you sign a postnup, you’ll be able to protect your assets in the event that you file for divorce. You’ll get the chance to define which properties can be divided and which properties must remain separate.

Signing a postnup is a great option for couples who didn’t sign a prenup, as well as couples who have gained assets during their marriage. If you’ve accrued assets that aren’t mentioned in your prenup, a postnup could protect these assets in the event of a divorce. Since you’ve defined everything in a clear, legally-binding document, your spouse will have a much harder time seizing your assets.

You can include a wide range of assets in your postnup, including properties, business interests, investments, savings accounts, retirement funds and more. Almost anything can be up for grabs during a divorce, so make sure you clearly define anything that you don’t want to lose. If you have children from a previous marriage, this is also the time to protect their inheritance. While it might seem safe to assume that your spouse wouldn’t try to take your assets during a divorce, you have no idea what could happen years from now.

How can an attorney help you through your divorce?

If you signed a postnup, your attorney could help you wrap up your divorce as quickly and neatly as possible. If you didn’t sign a prenup or a postnup, you may have a more challenging divorce ahead of you. An attorney could help you protect yourself and your interests during the divorce, particularly if your former spouse tries any underhanded tricks during the process.