Do you know the difference between a prenup and a postnup? Get the facts and find out the differences here as Debbie chats with attorney Lynne Strober.
Prenup: A prenuptial agreement, commonly abbreviated to prenup or prenupt (also can be known as an antenuptial agreement, or premarital agreement) is a contract between two people (usually a man and woman) that is entered into prior to marriage. The content of a prenup can vary, but usually pertains to issues such as choice of laws, equitable distribution, alimony, community property, religion, name, or anything that is not void by law. They may also include terms for the forfeiture of assets as a result of divorce on the grounds of adultery; further conditions of guardianship may be included as well.
Post-Nup: A post-nuptial agreement is essentially a pre-nuptial agreement signed after a marriage has already taken place, or rather, it is executed after a legal marriage has occurred. A post-nup can happen involuntarily. For example, if the parties had a prenup whose terms are changed in any way after marriage, they effectively can turn a prenup into a post nup. In essence, a couple may decide at some point during their marriage (for a variety of different reasons such as economic shifts that might not have been anticipated originally) that they want to more clearly delineate a division of assets.
Pre-Nup or Nope: Whey You Must Talk About Money, by Dr. Bonnie Eaker Weil
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